Current through Register Vol. 35, No. 18, September 24, 2024
A.
Definitions beginning with "A":
(1)
Actuarially sound: With
respect to an annuity or promissory note, the payments made to the beneficiary
must not exceed their life expectancy and returns to the beneficiary an amount
at least equal to the amount used to establish the contract.
(2)
Annuity: A financial
instrument, usually sold by a life insurance company, that pays out a regular
income at fixed intervals for a certain period of time, often beginning at a
certain age and continuing for the life of the owner.
(3)
Asset limit: An applicant or
recipient may be eligible for a MAP category of institutional care on the
factor of resources if countable resources do not exceed $2,000.
(4)
Assets: All income and
resources of an applicant or recipient and their spouse, if
applicable.
(5)
Authorized
representative: The individual designated to represent and act on the
applicant's or recipient's behalf during the eligibility process. The applicant
or recipient or their authorized representative must provide formal
documentation authorizing the named individual or individuals to access the
identified case information for a specified purpose and time frame. An
authorized representative may be an attorney representing a person or
household, a person acting under the authority of a valid power of attorney, a
guardian, or any other individual or individuals designated in writing by the
claimant.
B.
Definitions beginning with "B": Bona fide: A bona fide agreement
is made in good faith and is legally valid.
C.
Definitions beginning with
"C":
(1)
Community
spouse: The spouse of an institutionalized applicant or eligible
recipient who is residing in the community and is not in an
institution.
(2)
Community
spouse resource allowance (CSRA): An amount of a married couple's
resources that is set aside for the community spouse when the eligible
recipient is institutionalized. There is a MAD minimum and a federal maximum
amount of resources that can be set aside for the community
spouse.
D.
Definitions beginning with "D": [RESERVED]
(2)
Institutionalized spouse: An
applicant or recipient who is in an acute care hospital, nursing facility,
intermediate care facility for individuals with intellectual disabilities
(ICF-IID), swing bed or certified in-state inpatient rehabilitation
center.
E.
Definitions beginning with "E": Encumbrance: A general term for
any claim or lien on a parcel of real property, including mortgages, deeds of
trust and abstracts of judgments.
F.
Definitions beginning with "F": Fair
market value: An estimate of the value of an asset, if sold at the
prevailing price at the time it was actually transferred. Value is based on
criteria used in appraising the value of assets for the purpose of determining
a MAP category of eligibility.
G.
Definitions beginning with "G": [RESERVED]
H.
Definitions beginning with "H": Home
equity: (Also known as equity value.) The value of a home minus the
total amount owed on it in mortgages, liens and other encumbrances.
I.
Definitions beginning with
"I":
(1)
Income: Anything
that an applicant or recipient receives in cash or in kind that [he or she]
they can use to meet their needs for food and shelter. In-kind income is not
cash, but is actual food or shelter, or something that the applicant or
recipient can use to get one of these.
(2)
Institutionalized spouse: An
applicant or recipient who is in an acute care hospital, nursing facility,
intermediate care facility for individuals with intellectual disabilities
(ICF-IID), swing bed or certified in-state inpatient rehabilitation
center.
J.
Definitions beginning with "J": [RESERVED]
K.
Definitions beginning with "K":
[RESERVED]
L.
Definitions beginning with "L":
(1)
Life estate: An interest in
property that exists for the life of a person. For example, an individual gives
a life estate in a house to person A and the remainder to person B. Person A
has a life estate and person B has a remainder interest until person A
dies.
(2)
Liquid
resource: Cash or something that can easily be converted to cash within
20 business days.
(3)
Loan: A transaction in which one party advances money to, or on
behalf of another party, who promises to repay the lender in full, with or
without interest.
(4)
Long-term Care Insurance Policy: A type of insurance developed
specifically to cover the costs of nursing homes, assisted living, home health
care and other long-term care services as specified in the individual's
policy.
(5)
Lookback
period: A period of time in the past through which the ISD caseworker
may examine all financial transactions for asset transfers.
M.
Definitions beginning with "M":
Minimum monthly maintenance needs allowance: A minimum level of income
that the federal government allows to be set aside for the support of the
community spouse when the other spouse is in an institution.
N.
Definitions beginning with "N":
[RESERVED]
(1)
Negotiable
agreement: An agreement (i.e., a loan) in which the ownership of the
agreement and the whole amount of money can be transferred from one person to
another.
(2)
Non-liquid
resource: An asset such as real property, which cannot be easily
converted to cash within 20 days.
O.
Definitions beginning with "O":
[RESERVED]
P.
Definitions beginning with "P":
(1)
Promissory note: A
promissory note is a written, unconditional agreement in which one person
promises to pay a specified sum of money at a specified time to another
person.
(2)
Protected Asset
Limit: Protected assets up to the amount of qualified long-term care
insurance partnership (QLTCPI) benefit payments made to or on the behalf of
individual. This is the applicant's or recipient's protected asset limit
(PAL).
Q.
Definitions beginning with "Q": Qualified state long-term care insurance
partnership (QSLTCIP) program: A partnership program that joins MAD with
private insurance companies that offer long-term care insurance policies. The
MAP eligibility requirements are adjusted to provide financial incentives for
eligible recipients to purchase private QSLTCIP coverage.
R.
Definitions beginning with
"R":
(1)
Relative:
Relative is defined as a spouse, son or daughter; grandson or granddaughter;
step-son or step-daughter; in-laws; mother or father; step-mother or
step-father; half-sister or half-brother; grandmother or grandfather; aunt or
uncle; sister or brother; step-brother or step-sister; and niece or
nephew.
(2)
Remainder/remainder man: An interest in property that occurs after
a life estate. For example, an individual gives a life estate in a house to
person A and the remainder to person B. Person A has a life estate and Person B
has a remainder interest until person A dies. Person B is also called the
remainderman.
(3)
Resources: Cash or other liquid assets and any real or personal
property that applicant or recipient (or spouse if any) owns and could convert
to be used for their support and maintenance.
(4)
Restricted coverage: An
eligible recipient who has restricted coverage may access medically necessary
MAD benefits except for long-term care services in a nursing
facility.
(5)
Reverse
mortgage: A loan against home equity providing cash advances to a
borrower and requiring no repayment until a future date.
S.
Definitions beginning with
"S":
(1)
Sole benefit of:
A transfer is considered for the sole benefit of a spouse, blind or disabled
child, or a disabled individual if the transfer is arranged in such a way that
no individual or entity except the spouse, blind, or disabled child, or
disabled individual can benefit from the assets transferred in any way, whether
at the time of the transfer or at any time in the future.
(2)
Spouse: For purposes of this
rule, a spouse is an individual who is legally married under the laws of a
state, a territory, or a foreign jurisdiction in which the marriage was
celebrated.
T.
Definitions beginning with "T": Transfer: To change over the
possession, control or ownership of something.
U.
Definitions beginning with "U":
[RESERVED]
V.
Definitions beginning with "V": [RESERVED]
W.
Definitions beginning with "W":
[RESERVED]
X.
Definitions beginning with "X": [RESERVED]
Y.
Definitions beginning with "Y":
[RESERVED]
Z.
Definitions beginning with "Z": [RESERVED]
