West Virginia Code 9-4E-2 – Definitions
(a) "Asset disregard" means, with regard to the state's medical assistance program, disregarding any assets or resources in an amount equal to the insurance benefit payments that are made to or on behalf of an individual who is a beneficiary under a qualified long-term care insurance partnership policy.
Terms Used In West Virginia Code 9-4E-2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Assistance: means the three classes of assistance, namely: Federal-state assistance, federal assistance and state assistance. See West Virginia Code 9-1-2
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) "Long-term care insurance" means a policy described in section four (a), article fifteen (A), chapter thirty-three of this code.
(c) "Long-term care partnership program" means a qualified state long-term care insurance partnership as defined in 42 U.S.C. § 1396, Section 1917(b) of the Social Security Act.
(d) "Medicaid" means that assistance provided under a state plan implemented by subchapter nineteen, chapter seven, Title 42, United States Code, as that chapter has been and may hereafter be amended.