Review Activity

Before you learn more about the details of the two MA-LTC annuity requirements, it is important to understand the concepts and policies presented to you so far in this course. Answer the questions below before clicking on the answer.

1. True/False. Verifying the beneficiary of an annuity is not a requirement for MA-LTC.

True. You do not need to verify the name of an annuity’s beneficiary unless you are checking to determine if DHS has been named the preferred remainder beneficiary (PRB).

2. Name the two MA-LTC annuity data elements that are provided using the DHS-5143.

The DHS-5143 allows the person to report:

Annuity transactions.
How the annuity was funded.

3. True/False. The annuitization date must be verified for all annuities owned by an MA applicant requesting payment of LTC services, even if the annuity is still in the accumulation phase.

False. The annuitization date is only verified for annuitized annuities when an applicant is requesting MA-LTC. Annuities in the accumulation phase do not have an annuitization date.

4. List the two components that make up an MA-LTC annuity transaction.

The two components are:

A qualified action taken (by an annuity owner) on an annuity.
The qualified action must have occurred within the lookback period or while the person is an MA-LTC enrollee.

5. When do you apply the first MA-LTC annuity requirement; designating DHS as the PRB?

Apply the first MA-LTC annuity requirement after determining that the applicant has met all basic MA eligibility requirements. For example, if an applicant fails to verify income, you cannot require them to designate DHS as the PRB because they do not meet all of the basic MA eligibility requirements, and therefore are not eligible for MA-LTC.

6. When do you apply the second MA-LTC annuity requirement; evaluating the annuity for an uncompensated transfer?

You must first determine that the applicant is “otherwise eligible” for MA-LTC, meaning all MA and MA-LTC requirements have been met, before evaluating an annuity for uncompensated transfers. A penalty period cannot be applied if the applicant does not meet all other MA and MA-LTC eligibility requirements.

Conclusion icon.

This is the end of the module.

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Page 5

MA-LTC Annuity Requirements

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