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

206 iv) Determine the life expectancy of the annuitant at the time the annuity was purchased using the appropriate life expectancy table described at 8.100.7.J. 1) If the length of the annuitization period exceeds the annuitant’s life expectancy, then a transfer without fair consideration exists for the portion of the annuitization period that exceeds the annuitant’s life expectancy. 2) If the total value of the annuity’s payments during the annuitization period is less than the original purchase price of the annuity, then the difference shall be considered to be a transfer without fair consideration. 3) If the total value of the annuity’s payments during the annuitization period is equal to or greater than the original purchase price of the annuity, then the purchase of the annuity shall not be considered to be a transfer without fair consideration. However, any payments made by the annuity shall be considered to be countable income in the month received. 4) If the annuity was purchased more than 36 months before the date of application for Medicaid, then there is no transfer without fair consideration penalty period. However, any payments made by the annuity shall be considered to be countable income in the month received. 4. Annuities Established on or after April 1, 1998 but before February 8, 2006 a. The Eligibility Site shall determine the Minimum Monthly Maintenance Needs Allowance (MMMNA) of the community spouse, if applicable. i) If the monthly payment amount provided by the annuity to the community spouse exceeds the MMMNA, then the amount of the annuity which causes the monthly annuity payment to exceed the