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Annuitized Annuitized means that an annuity account or fund has become irrevocable and is issuing annuity payments in accordance with the annuity contract. When a resource is annuitized, it is converted from a resource to a stream of income. Annuity An annuity conveys a right to receive fixed, periodic payments, either for life or for a term of months or years. applicant A person who has submitted a request for coverage for whom no decision has been made regarding eligibility Arrearages Payments of child support which were due for a prior period. authorized representative A person or organization authorized to act on a client's behalf. An authorized representative may be designated by the client and may exercise all the rights and responsibilities of a client. AVS Asset Verification System balloon payments When a promissory note is structured such that only interest is paid until the maturity of the note, and the principal is due at the end of the note, the last payment is a balloon payment. Beneficiary Beneficiary means the person(s) entitled to any remaining pay-out of an annuity upon the death of the annuitant. CARES This system supports the income maintenance operations for DHS and DCF. CARES is used to determine eligibility, issue benefits, track premium payments, and manage support for BadgerCare Plus, EBD Medicaid, W-2, Child Care, and Work Programs. CBRF community-based residential facility. A place in which five or more unrelated adults live and where they receive care, treatment, or services, but not nursing care on any permanent basis, in addition to board and room CCRC