WAC 182-513-1450 How the transfer of assets affect LTC partnership and medicaid eligibility?
Effective February 20, 2017
- If you transfer an asset within the sixty months prior to the medicaid application or after medicaid eligibility has been established, the agency will evaluate the transfer based on WAC 182-513-1363 and determine if a penalty period applies unless:
- You have already been receiving institutional services;
- Your LTC partnership policy has paid toward institutional services for you; and
- The value of the transferred assets has been protected under the LTC partnership policy.
- The value of the transferred assets that exceed your LTC partnership protection will be evaluated for a transfer penalty.
- If you transfer assets ((whose)) with values that are protected, you lose that value as future protection unless all the transferred assets are returned.
- The value of your protected assets less the value of transferred assets equals the adjusted value of the assets you are able to protect.