Kentucky Statutes 205.6322 – Cabinet to seek to prohibit sheltering of assets in long-term-care cases
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The Cabinet for Health and Family Services shall seek to prohibit the sheltering of assets in medical assistance long-term-care cases by promulgation of administrative regulations, pursuant to KRS Chapter 13A, that establish the following:
(1) Consideration of assets placed in Medicaid-qualifying trusts as a prohibited transfer of resources, to the extent prohibited by federal law;
(2) Revision of Medicaid policy to provide that assets funding the purchase of an annuity shall be treated as a transfer of resources unless the annuity is actuarially sound as defined in administrative regulations promulgated by the cabinet pursuant to KRS Chapter 13A;
(3) Revision of Medicaid policy to treat income-producing property as an available resource to the extent allowed by federal law;
(4) Review of Medicaid eligibility procedures and operation to improve eligibility verification and detection of fraud and abuse; and
(5) Review of the feasibility of instituting a photographic identification card, possibly in conjunction with other entitlement programs, to reduce fraud and abuse through misuse of Medicaid identification cards.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 99, sec. 253, effective June 20, 2005. — Amended
1998 Ky. Acts ch. 426, sec. 211, effective July 15, 1998. — Amended 1996 Ky. Acts ch. 371, sec. 32, effective July 15, 1996. — Created 1994 Ky. Acts ch. 512, sec. 78, effective July 15, 1994.
(1) Consideration of assets placed in Medicaid-qualifying trusts as a prohibited transfer of resources, to the extent prohibited by federal law;
Terms Used In Kentucky Statutes 205.6322
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Cabinet: means the Cabinet for Health and Family Services. See Kentucky Statutes 205.010
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Fraud: Intentional deception resulting in injury to another.
(2) Revision of Medicaid policy to provide that assets funding the purchase of an annuity shall be treated as a transfer of resources unless the annuity is actuarially sound as defined in administrative regulations promulgated by the cabinet pursuant to KRS Chapter 13A;
(3) Revision of Medicaid policy to treat income-producing property as an available resource to the extent allowed by federal law;
(4) Review of Medicaid eligibility procedures and operation to improve eligibility verification and detection of fraud and abuse; and
(5) Review of the feasibility of instituting a photographic identification card, possibly in conjunction with other entitlement programs, to reduce fraud and abuse through misuse of Medicaid identification cards.
Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 99, sec. 253, effective June 20, 2005. — Amended
1998 Ky. Acts ch. 426, sec. 211, effective July 15, 1998. — Amended 1996 Ky. Acts ch. 371, sec. 32, effective July 15, 1996. — Created 1994 Ky. Acts ch. 512, sec. 78, effective July 15, 1994.