Module Review

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 Review

You have completed this module. Can you answer the following questions to determine if you have met the module objectives?

1. What is a preferred remainder beneficiary?

A preferred remainder beneficiary (PRB) is the person who or entity that has preferential rights to the death benefit of an annuity. By designating DHS as the PRB, DHS receives reimbursement from the death benefit, when it become available, for an amount up to the cost of MA benefits that DHS has paid on the enrollee or their spouse’s behalf.

2. When do you have to evaluate an annuity to determine if DHS must be designated as the preferred remainder beneficiary?

You must evaluate annuities based on the MA-LTC annuity requirements at the time of request for MA-LTC, at the time an MA-LTC enrollee is renewing coverage or when an annuity transaction has occurred.

3. List the three conditions that must be met to require DHS to be designated the PRB.

The applicant and/or their spouse is an owner of the annuity.
Someone other than the surviving spouse can be named as the beneficiary.
An MA-LTC annuity transaction has occurred.

4. Name two resources available to help you in the designation process.

Course handouts.
Annuity Flowcharts.
Eligibility Policy Manual.
HealthQuest.
DHS Special Recovery Unit (SRU).

The next module will review the second MA-LTC annuity requirement.

Conclusion icon.

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This is the end of the module.

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Designating DHS as the PRB - Designation Activity

Updated December 22, 2022.
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