Method 1 – Condition Examples

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

Condition Examples

Let’s look at some examples based on the four criteria you just read.

Justin, a current MA enrollee, is otherwise eligible for MA-LTC. He owns an IRA annuity which he purchased one year ago using funds from his savings account. He receives $300 each month from the annuity. The four conditions have been met to require an annuity transfer evaluation.

Determine that Justin meets the additional conditions to complete an evaluation. He funded the annuity and is the payee of the annuity. An MA-LTC annuity transaction occurred with the annuitization of the annuity because it is a qualified action within his lookback period.

Meredith is requesting MA-LTC. She meets all MA and MA-LTC eligibility requirements. Her husband, Derik, purchased an annuity one year ago with money he received from an inheritance. He receives $300 each month from the annuity. The four conditions have been met to require an annuity transfer evaluation.

Determine that the additional conditions are not met. Although Derik funded the annuity and an annuity transaction did occur (purchase and annuitization), Meredith, who is the MA-LTC client, is not the payee but rather Derik is.

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Transfer Evaluation - Evaluation Method 1

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Updated December 22, 2022.
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