Annuities, affect on Medicaid eligibility--rulemaking authority.
208.212. 1. For purposes of MO HealthNet eligibility, the stream ofincome from investment in annuities shall be excluded as an availableresource for those annuities that:
(1) Are actuarially sound as measured against the Social SecurityAdministration Life Expectancy Tables, as amended;
(2) Provide equal or nearly equal payments for the duration of thedevice and which exclude balloon-style final payments;
(3) Provide the state of Missouri secondary or contingent beneficiarystatus ensuring payment if the individual predeceases the duration of theannuity, in an amount equal to the MO HealthNet expenditure made by thestate on the individual's behalf; and
(4) Name and pay the MO HealthNet claimant as the primarybeneficiary.
2. The department shall establish a sixty month look-back period toreview any investment in an annuity by an applicant for MO HealthNetbenefits. If an investment in an annuity is determined by the departmentto have been made in anticipation of obtaining or with an intent to obtaineligibility for MO HealthNet benefits, the department shall have availableall remedies and sanctions permitted under federal and state law regardingsuch investment. The fact that an investment in an annuity which occurredprior to August 28, 2005, does not meet the criteria established insubsection 1 of this section shall not automatically result in adisallowance of such investment.
3. The department of social services shall promulgate rules toadminister the provisions of this section. Any rule or portion of a rule,as that term is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2005, shall be invalid and void.
Annuities, affect on Medicaid eligibility--rulemaking authority.
208.212. 1. For purposes of MO HealthNet eligibility, the stream ofincome from investment in annuities shall be excluded as an availableresource for those annuities that:
(1) Are actuarially sound as measured against the Social SecurityAdministration Life Expectancy Tables, as amended;
(2) Provide equal or nearly equal payments for the duration of thedevice and which exclude balloon-style final payments;
(3) Provide the state of Missouri secondary or contingent beneficiarystatus ensuring payment if the individual predeceases the duration of theannuity, in an amount equal to the MO HealthNet expenditure made by thestate on the individual's behalf; and
(4) Name and pay the MO HealthNet claimant as the primarybeneficiary.
2. The department shall establish a sixty month look-back period toreview any investment in an annuity by an applicant for MO HealthNetbenefits. If an investment in an annuity is determined by the departmentto have been made in anticipation of obtaining or with an intent to obtaineligibility for MO HealthNet benefits, the department shall have availableall remedies and sanctions permitted under federal and state law regardingsuch investment. The fact that an investment in an annuity which occurredprior to August 28, 2005, does not meet the criteria established insubsection 1 of this section shall not automatically result in adisallowance of such investment.
3. The department of social services shall promulgate rules toadminister the provisions of this section. Any rule or portion of a rule,as that term is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2005, shall be invalid and void.
Annuities, affect on Medicaid eligibility--rulemaking authority.
208.212. 1. For purposes of MO HealthNet eligibility, the stream ofincome from investment in annuities shall be excluded as an availableresource for those annuities that:
(1) Are actuarially sound as measured against the Social SecurityAdministration Life Expectancy Tables, as amended;
(2) Provide equal or nearly equal payments for the duration of thedevice and which exclude balloon-style final payments;
(3) Provide the state of Missouri secondary or contingent beneficiarystatus ensuring payment if the individual predeceases the duration of theannuity, in an amount equal to the MO HealthNet expenditure made by thestate on the individual's behalf; and
(4) Name and pay the MO HealthNet claimant as the primarybeneficiary.
2. The department shall establish a sixty month look-back period toreview any investment in an annuity by an applicant for MO HealthNetbenefits. If an investment in an annuity is determined by the departmentto have been made in anticipation of obtaining or with an intent to obtaineligibility for MO HealthNet benefits, the department shall have availableall remedies and sanctions permitted under federal and state law regardingsuch investment. The fact that an investment in an annuity which occurredprior to August 28, 2005, does not meet the criteria established insubsection 1 of this section shall not automatically result in adisallowance of such investment.
3. The department of social services shall promulgate rules toadminister the provisions of this section. Any rule or portion of a rule,as that term is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate, or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2005, shall be invalid and void.
