Clarifying information

Section 1940 of the Social Security Act 2008 (42 USC 1396w), requires all states to implement a system to verify resources/assets of aged, blind, or disabled applicants and recipients of Medicaid, including long-term services and supports (LTSS), through the use of an asset verification system.

The AVS searches client financial institution accounts via several methods:

Automatically searches for accounts at the largest financial institutions in the United States.

Automatically searches for accounts at specific financial institutions based on the client's residential address, via a geographic search algorithm.

Allows financial eligibility staff to directly search for accounts at financial institutions where we believe the applicant/recipient has an account.

AVS reports on the following account types:

Burial accounts

Certificate of deposit

Checking accounts

Christmas club accounts

IRA accounts

Keogh accounts

Money market accounts

Rent security

Savings accounts

Trusts

Financial eligibility staff review the information received from financial institutions and resolve discrepancies with the client prior to the eligibility determination.

AVS does not change how financial eligibility staff handles questionable situations; AVS is another tool to use to determine eligibility.

Clients, and those financially responsible for them, must provide authorization before an AVS search is submitted.

Once a client or financially responsible person gives authorization for use of AVS, it remains in place until the client or the financially responsible person cancels the authorization in writing, they are no longer eligible for coverage, or the application is withdrawn or denied.