SB 915 Summary

• Establishes that individuals applying for Medicaid cannot be determined ineligible based solely on a single unliquidated asset if they provide evidence the asset is inaccessible.

• Permits individuals who discover an asset after applying for Medicaid to remain eligible if they report the discovery and take steps to liquidate and spend down the asset according to Medicaid limits.

• Requires the Commissioner of Social Services to seek a federal waiver to allow Medicaid coverage for families with incomes up to 143 percent of the temporary family assistance program payment standard.

• Allows institutionalized individuals to remain eligible for Medicaid despite possessing a life insurance policy worth less than $10,000 if they are pursuing surrender and will use proceeds for long-term care.

• Takes effect July 1, 2015.