A bill to direct the Federal Trade Commission to issue a trade regulation rule respecting unfair and deceptive acts and practices by life care homes, and to direct the Federal Trade Commission to conduct a study of unfair and deceptive acts and practices engaged in by nursing homes.

Directs the Federal Trade Commission to issue a rule under the Federal Trade Commission Act regarding unfair and deceptive acts and practices by life care homes. Instructs the Commission to consider including requirements regarding the following: (1) the disclosure to prospective and current residents of specified financial and contractual plans, obligations, and dealings; (2) the definition of advertising practices which are unfair and deceptive and actions to be taken by life care homes to prevent such practices; and (3) the use of readily understandable terms in life care contracts. Requires the Commission to include a statement of the reasons why any such requirement is not included in the rules issued pursuant to this Act.

Directs the Commission to study unfair and deceptive acts and practices engaged in by nursing homes and report such findings to the Congress.