Florida’s 125% Surge in Property-Insurance Bills Sows Havoc

“With Florida being threatened by more powerful hurricanes, commercial-property insurance costs last year surged at nearly five times the national pace, according to credit rating firm AM Best Co. Inc. That’s slapping what care providers say is effectively a new — if little noticed — tax on an industry already contending with labor shortages, soaring wages and rising supply costs.

The result? More and more nursing homes are closing down each year, while others are missing debt payments. At the same time, the costs for senior care – at all levels from independent living to around-the-clock nursing — are rising, threatening to become unaffordable for a growing number of retirees.“