HF 3140

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to human services; permitting an exception to 
  1.3             the asset transfer prohibition under medical 
  1.4             assistance for persons who purchase long-term care 
  1.5             insurance; amending Minnesota Statutes 1994, section 
  1.6             256B.0595, by adding a subdivision. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1994, section 256B.0595, is 
  1.9   amended by adding a subdivision to read: 
  1.10     Subd. 4a.  [EXCEPTION TO TRANSFER PROHIBITION FOR PURCHASER 
  1.11  OF LONG-TERM CARE INSURANCE POLICY.] For at least 36 months 
  1.12  after the date an asset is disposed of, a person who purchases a 
  1.13  long-term care policy that covers the cost of substantially all 
  1.14  necessary nursing home care, or all necessary care for an 
  1.15  individual who qualifies for admission to a nursing home but 
  1.16  receives care elsewhere, may demonstrate that the asset was 
  1.17  disposed of exclusively for a purpose other than to qualify for 
  1.18  medical assistance by providing proof of that insurance.  A 
  1.19  person who qualifies under this subdivision shall not be subject 
  1.20  to the period of ineligibility under subdivision 2.  For 
  1.21  purposes of this subdivision, "long-term care policy" has the 
  1.22  meaning given in section 62A.46. 
  1.23     Sec. 2.  [EFFECTIVE DATE.] 
  1.24     Section 1 is effective for transfers of assets on or after 
  1.25  July 1, 1996.