Verifying Assets
Verify assets, following MA asset verification policy:
- For applications that do not request retroactive coverage and renewals accept verification that is dated within the last 30 days.
- For retroactive coverage requests verify as of the first day of the first month for which the client requests coverage.
Note: Do not require verifications to be dated the first day of the first month eligibility is requested. The verification is sufficient if the period it covers includes the first day of the first month eligibility is requested.
Use these asset verifications to determine eligibility, unless a change is reported between the verification date and when MA-LTC eligibility is approved.
Assets must also be verified at the following times:
- Processing a requested+ asset assessment.
- At the first annual renewal and all other required renewals.
You must review assets to determine if the client remains within the asset limit for the month following the month in which the client receives any of the following:
- A lump sum or periodic payment.
- A refund from an LTCF.
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Assets Requirements - General Asset Requirements