Insurance Commissioner Wayne Goodwin congratulates Bill Sears, SearStone founder, on receiving a license for the new continuing care retirement community development.

For Immediate Release: October 28, 2013

NCDOI Welcomes New Continuing Care Retirement Community

RALEIGH -- Insurance Commissioner Wayne Goodwin today signed a license for SearStone to operate as a continuing care retirement community in Cary. Continuing care retirement communities are unique to the area of long-term care in that they provide various levels of care within one community to older adults, typically including independent living, assisted living and skilled nursing care options.

This is the first new continuing care retirement community to be licensed in North Carolina since 2008. The North Carolina Department of Insurance licenses these communities and performs financial and regulatory reviews to ensure their financial continuity and statutory compliance.

"I am pleased that SearStone will provide additional residential options and care for North Carolina's growing senior population," Goodwin said. "SearStone joins more than 50 continuing care retirement communities around the state."

SearStone is expected to hire approximately 300 employees and house 300 members when at full capacity.

NCDOI compiles a reference guide for continuing care retirement communities to help prospective residents compare different communities. View the 2013 reference guide.

Photo Caption: Insurance Commissioner Wayne Goodwin congratulates Bill Sears, SearStone founder, on receiving a license for the new continuing care retirement community development.

--NCDOI--