Page 189

CODE OF COLORADO REGULATIONS 10 CCR 2505-10 8.100 Medical Services Board

189 by a representative, that representative may not be a beneficiary of the agreement; and b) The legally authorized representative, agent, guardian, conservator, or other representative of the applicant’s estate may not be a beneficiary of a care agreement; and c) The agreement specifies the type, frequency and time to be spent providing the services agreed to in exchange for the payment or transferred item; and d) The agreement provides for payment of services on a regular basis, no less frequently than monthly, while the services are being provided; and ii) Compensation for services rendered must be comparable to what is received in the open market. The burden is on the applicant to prove that the compensation is reasonable and comparable; and iii) A record or log is provided which details the actual services rendered. The services cannot be services that duplicate services that another party is being paid to provide or which another party is responsible to provide. c. Payment for services, which were rendered previously and for which no compensation was made, shall be considered as a transfer without fair consideration. d. Assets transferred in exchange for a contract for personal services for future assistance after the date of application are considered available resources. e. A care agreement must be entered into, signed, and notarized prior to providing any services for which a beneficiary will be compensated. 5. Transfers of real property into joint tenancy without fair consideration