2007 Minnesota Statutes

256B.0594 PAYMENT OF BENEFITS FROM AN ANNUITY.
When payment becomes due under an annuity that names the department a remainder
beneficiary as described in section 256B.056, subdivision 11, the issuer shall request and the
department shall, within 45 days after receipt of the request, provide a written statement of the
total amount of the medical assistance paid. Upon timely receipt of the written statement of
the amount of medical assistance paid, the issuer shall pay the department an amount equal to
the lesser of the amount due the department under the annuity or the total amount of medical
assistance paid on behalf of the individual or the individual's spouse. Any amounts remaining
after the issuer's payment to the department shall be payable according to the terms of the annuity
or similar financial instrument. The county agency or the department shall provide the issuer with
the name, address, and telephone number of a unit within the department the issuer can contact to
comply with this section. The requirements of section 72A.201, subdivision 4, clause (3), shall not
apply to payments made under this section until the issuer has received final payment information
from the department, if the issuer has notified the beneficiary of the requirements of this section at
the time it initially requests payment information from the department.
History: 2006 c 282 art 17 s 29