Medical Assistance Program--Section 0382--Evaluation of Resources
218-3945 INACTIVE RULE
Title | 218 | Department of Human Services |
Chapter | XXX | Old Regulations Which Were Not Assigned Chapter-Subchap-Part |
Subchapter | XX | Old Regulations Which Were Not Assigned Chapter-Subchap-Part |
Part | 3945 | Medical Assistance Program--Section 0382--Evaluation of Resources |
Type of Filing | Amendment |
Regulation Status | Inactive |
Effective | 06/29/2006 to 01/18/2008 |
Regulation Authority:
RIGL 40-8; Title XIX of the Social Security Act; Federal Deficit Reduction Act of 2005
Purpose and Reason:
Effective 2/8/2006, to comply with the federal Deficit Reduction Act of 2005, changes to Long Term Care Assistance are: a maximum home equity exclusion cap of $500,000; annuities must have the State as a remainder beneficiary up to the amount of Medicaid paid on behalf of the recipient; life estate purchases of another's home require that the individual have lived in the home for (1) year; notes & loans are examined more closely under the resource test.
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