MS HB1391

Authorizes the Division of Medicaid to implement an asset verification program requiring applicants and recipients who are aged, blind, or disabled to authorize access to their financial records from banks, credit unions, brokerages, and retirement fund administrators

Establishes a quarterly automated data match system where Medicaid provides identifying information (name, Social Security number) to financial institutions, which then disclose account balances, account numbers, and account holder information

Requires Medicaid to reimburse financial institutions for reasonable costs of conducting data matches in accordance with the Federal Right to Financial Privacy Act

Grants financial institutions absolute immunity from civil and criminal liability for disclosing information to Medicaid or for any errors, delays, or omissions made in good faith during the data matching process

Mandates the Division of Medicaid to report to the Legislature by December 31, 2013, on financial institution participation rates, program savings, and all expenditures including vendor and contractor payments