Section Review
In this section you learned that whenever an MA-LTC applicant or enrollee or their spouse reports an ownership interest in an annuity, you must review that annuity to determine if DHS must be designated as the preferred remainder beneficiary (PRB). You must review each annuity for each of the three conditions:
- Applicant or their spouse has ownership interest in the annuity.
- Whether someone other than the surviving spouse may be designated as a beneficiary.
- An MA-LTC annuity transaction has occurred.
The next section will provide you with a process to follow when an applicant or their spouse must designate DHS as the PRB.
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Designating DHS as the PRB - Requirement Conditions