Iowa Code 514H.2 – Iowa long-term care asset disregard incentive program — establishment and administration
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 514H.2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
514H.2 Iowa long-term care asset disregard incentive program — establishment and administration.
1. The Iowa long-term care asset disregard incentive program is established to do all of the following:
a. Provide incentives for individuals to insure against the costs of providing for their long-term care needs.
b. Provide a mechanism for individuals to qualify for coverage of the costs of their long-term care needs under the medical assistance program without first being required to substantially exhaust all their resources.
c. Assist in developing methods for increasing access to and the affordability of long-term care insurance.
d. Alleviate the financial burden on the state‘s medical assistance program by encouraging the pursuit of private initiatives.
2. The insurance division of the department of insurance and financial services shall administer the program in cooperation with the department of health and human services. Each agency shall take all necessary actions, including filing an appropriate medical assistance state plan amendment to the state Medicaid plan to take full advantage of the benefits and features of the Deficit Reduction Act of 2005.
2005 Acts, ch 166, §3, 13; 2009 Acts, ch 145, §15; 2023 Acts, ch 19, §1205, 2732
See Code editor’s note on simple harmonization at the beginning of this Code volume
Subsection 2 amended
1. The Iowa long-term care asset disregard incentive program is established to do all of the following:
a. Provide incentives for individuals to insure against the costs of providing for their long-term care needs.
b. Provide a mechanism for individuals to qualify for coverage of the costs of their long-term care needs under the medical assistance program without first being required to substantially exhaust all their resources.
c. Assist in developing methods for increasing access to and the affordability of long-term care insurance.
d. Alleviate the financial burden on the state‘s medical assistance program by encouraging the pursuit of private initiatives.
2. The insurance division of the department of insurance and financial services shall administer the program in cooperation with the department of health and human services. Each agency shall take all necessary actions, including filing an appropriate medical assistance state plan amendment to the state Medicaid plan to take full advantage of the benefits and features of the Deficit Reduction Act of 2005.
2005 Acts, ch 166, §3, 13; 2009 Acts, ch 145, §15; 2023 Acts, ch 19, §1205, 2732
See Code editor’s note on simple harmonization at the beginning of this Code volume
Subsection 2 amended