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West Virginia Income Maintenance Manual Chapter 24

West Virginia Income Maintenance Manual Page 74 Chapter 24 Long Term Care

insurance payments occurred as of that same date, he is afforded the same asset protection he previously had prior to becoming a West Virginia resident. The policy’s benefits need not be exhausted before the LTCIP Asset Disregard is applied. Partnership State Example 4: Mr. Violet was a resident of Virginia before establishing West Virginia residency in January 2011. He purchased an LTC policy from Virginia on May 1, 2007 (the same day Virginia became a Partnership State). Mr. Violet verifies being institutionalized in Virginia and his $62,000 in assets were disregarded due to insurance payments paid on his behalf in 2009 and 2010 that exhausted his $75,000 Policy. His assets continue to be protected by the LTCIP Asset Disregard and he is eligible for West Virginia Medicaid. • When an individual exchanges a Qualified LTCIP Policy issued by his former state of residence for a West Virginia policy, eligibility for the LTCIP Asset Disregard is evaluated based on the first State’s SPA, policy issuance date and dates of insurance payments made. Partnership State Example 5: Mr. Carnation was formerly an Ohio resident. He exchanges his Ohio-issued Qualified LTCIP Policy for a West Virginia-issued Policy. He is evaluated for the LTCIP Asset Disregard based on the circumstances surrounding the first policy’s issuance. Ohio became a Partnership State on September 1, 2007. His Policy was issued on January 1, 2008 and insurance benefits were made after this same date; therefore as long as insurance payments made on his behalf equal or exceed his individual resources, the LTCIP Asset Disregard can be applied. 24.8.5.D.2 Verification of the Qualified LTCIP Policy The LTCIP Asset Disregard requires that the LTC policy be a Qualified LTCIP Policy. The DFA- LTCIP-1 is used to verify information about the individual’s policy. The following criteria are used to determine if the policy is qualified for the Disregard: • The individual was a resident of a Partnership State when his policy was issued; AND NOTE: When an individual exchanges his Qualified LTCIP Policy issued by his former state of residence for a West Virginia policy, eligibility for the LTCIP Asset Disregard is evaluated based on the first State’s SPA date, policy issuance date, and dates of insurance payments made.