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West Virginia Income Maintenance Manual Chapter 24
West Virginia Income Maintenance Manual Page 76 Chapter 24 Long Term Care
24.8.5.F Applying the LTCIP Asset Disregard at Application and Redetermination 24.8.5.F.1 Applying the Disregard at Application When there is a community spouse, the countable assets of the couple are combined and the asset assessment is completed. The LTCIP Asset Disregard is applied to the individual’s assets at eligibility determination. The amount of the Disregard is determined by the value of payments made to the individual or on his behalf since July 1, 2010. The policy’s benefits need not be exhausted for the LTCIP Asset Disregard to be applied. The resource(s) to which the Disregard is applied may be disregarded in part or in entirety. When a resource is disregarded in its entirety, the Worker indicates in the eligibility system that the resource is inaccessible and details in case comments that the LTCIP Asset Disregard was applied. The corresponding insurance payments made, date of last payment and the amount of benefits remaining in the policy are documented to track the assets that were protected. LTCIP Asset Disregard at Application Example: Ms. Tulip is eligible for the Disregard. She has a bank account with a balance of $27,000. Insurance benefits from her Qualified LTCIP Policy totaling $27,000 have been paid to her. In the eligibility system, an account totaling $27,000 is entered and listed as inaccessible. The Worker documents the application of the Disregard, dates of payments made that resulted in her becoming eligible for Medicaid and the amount of benefits remaining under Ms. Tulip’s policy. An asset to which the LTCIP Asset Disregard is applied in part and results in eligibility being established is entered in the data system as two assets, one inaccessible and one with the remaining value after the Disregard is applied. Documentation is detailed in case comments. Partially Accessible Asset Example: Mr. Daffodil has $12,000 in a savings account. He has a West Virginia-issued, Qualified LTCIP Policy that was purchased on August 1, 2010. The Worker verifies the policy has paid out $10,000 on Mr. Daffodil’s behalf since that same date. The Worker applies the Disregard and enters a $10,000 savings account as inaccessible and then enters the remaining $2,000 as accessible in the eligibility system. The Worker details the information in case comments.