Upon written authorization of a resident under par. (a), the nursing facility shall manage and account for the resident’s personal funds deposited with the nursing facility as follows: 1.
(1)#
The nursing facility shall deposit any amount of a resident’s personal funds in excess of $50 in an interest-bearing account that is separate from any of the nursing facility’s operating accounts and credits all interest earned on the separate account to the account. The nursing facility shall maintain a resident’s personal funds that do not exceed $50 in a noninterest-bearing account or petty cash fund.
(2)#
The nursing facility shall assure a full and complete separate accounting of the personal funds of each resident for whom the facility has written authorization, maintain a written record of all financial transactions involving the personal funds of the resident deposited with the nursing facility and afford the resident or the resident’s legal representative with reasonable access to the record.
(3)#
The nursing facility shall notify each resident receiving medical assistance of all of the following: a. When the amount in the resident’s account is $200 less than the dollar amount permitted under 42 USC 1381 to 1385. b. That if the amount in the account, in addition to the value of the resident’s other nonexempt resources, reaches the amount under 42 USC 1382 (a) (3) (B) the resident may lose eligibility for medical assistance or for supplemental security income benefits.
(3)(a)#
When the amount in the resident’s account is $200 less than the dollar amount permitted under 42 USC 1381 to 1385.
(3)(b)#
That if the amount in the account, in addition to the value of the resident’s other nonexempt resources, reaches the amount under 42 USC 1382 (a) (3) (B) the resident may lose eligibility for medical assistance or for supplemental security income benefits.
(4)#
Upon the death of a resident with an account under subd. 1., the nursing facility shall promptly convey the resident’s personal funds and a final accounting of the funds to the individual administering the resident’s estate.
(5)#
The nursing facility shall purchase a surety bond or otherwise provide satisfactory assurance of the security of all personal funds of residents that are deposited with the nursing facility.
(6)#
The nursing facility may not impose a charge against the personal funds of a resident for any item or service for which payment is made by medical assistance or medicare.