Module Summary

Annuities and MA-LTC

Reporting and Verification

Annuity Transactions

MA-LTC Annuity Requirements

Designating DHS as the PRB

Requirement Conditions

Designation Process

Designation Activity

Transfer Evaluation

Requirement Conditions

Evaluation Method

Actuarially Sound Determination

Transfer Evaluation Activity

Module Summary

Answer the following questions to review the module objectives.

1. Identify which of the following does not have to be reported when a person requests MA-LTC?

2. What two items are reported via the DHS-5143, Required Annuity Information?

By completing, signing and returning the DHS-5143 the applicant may report:

How the annuity was funded. The applicant may state they do not know how the annuity was funded. Accept this answer. We will discuss how this affects the evaluation of the annuity as a transfer later in this course.
Whether an annuity transaction has occurred.

3. For each of the following verifications determine whether the element is needed for basic MA, MA-LTC or both.

Date of Purchase: MA-LTC.

Date of Annuitization: MA-LTC.

Settlement Option Details: Both basic MA and MA-LTC.

Type of Annuity: Both basic MA and MA-LTC.

Funding Source: MA-LTC when using Method 1 for the annuity transfer evaluation (which will be discussed later in this course).

Name of Payee: Both basic MA and MA-LTC.

Name of Owner: Both basic MA and MA-LTC.

Cash Value (if any): Both basic MA and MA-LTC.

Annuity Transaction: MA-LTC.

In the upcoming modules you will see how we use the information we are requesting and verifying to determine eligibility for payment of LTC services.

Conclusion icon.

Conclusion icon.

This is the end of the module.

Please select the next module from the menu on the left.

Page 8

Reporting and Verification

Updated December 22, 2022.
Copyright © 2011 Health Care Eligibility and Access (HCEA).