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F-405 Division of Welfare and Supportive Services TRANSFER OF ASSETS Medical Assistance Manual DEFINITIONS 23 Oct 01 MTL 04/23 be entitled if action had not been taken to avoid receiving the asset. Note: The home of an applicant/recipient (principal place of residence) can only be transferred in the specific instances outlined in 440.5 whether the home is excludable or not.

Institutionalized Individual - Any person who is residing in a medical facility, including SSI recipients, or persons who fall into any category considered institutionalized recipients, such as Home and Community Based Services Waiver (HCBW) customers.

Fair Market Value - The current market value of the asset at the time of transfer.

Compensation - All money, real or personal property, food, shelter, or services received by the applicant/recipient at or after the time of transfer in exchange for the asset. Items received prior to the transfer will be considered compensation only if they were provided pursuant to a binding contract (verbal or written) to provide such items in exchange for payment.

Personal Care Contract – a contract/agreement that provides health care monitoring, medical treatment, securing hospitalization, visitation, entertainment, travel/transportation, financial management, shopping, home help or other assistance with activities or daily living.

Home Care Contract – a contract/agreement which pays in advance for the applicant/recipient’s expenses for their home or other real property, including but not limited to repairs, property maintenance, property taxes, homeowner’s insurance, heat and utilities.

NOTE: Home Care and/or personal Care contracts/agreements may be between relatives or non-relatives. A relative is anyone related to the applicant/recipient by blood, marriage, or adoption.

Uncompensated Value - The Fair Market Value of the asset at the time of transfer, minus the amount of compensation received by the applicant/recipient or spouse in exchange for the asset.

Legal Representative - Parent of a minor child, power of attorney, legal guardian, or anyone legally authorized to execute a contract for the customer/spouse. Note: Assets transferred by anyone acting in place of, or on behalf of, or at the request or direction of the customer or spouse, are considered to be transferred by the customer or spouse.

Spouse – Person legally married to another under state law. In Nevada, a person is married until divorced.

Community Spouse – A spouse who is not living in a medical institution, nursing facility, or receiving HCBW services.

Penalty – Individuals who receive Home and Community Based Waiver (HCBW) services, or institutionalized individuals are denied coverage of certain Medicaid services during the transfer of asset penalty period. The individual remains eligible for Medicaid and can receive certain services not subject to the penalty. Eligibility codes C and D are used to indicate a penalty period.