SB 1273 Summary

• Permits individuals applying for institutional Medicaid care to create an Income Pension Trust if their income exceeds categorical needy standards but does not exceed the combined costs of statewide median nursing facility payments plus specific insurance premiums and monthly maintenance allowances.

• Requires Medicaid Income Pension Trusts to comply with 42 U.S.C. Section 1396p(d)(4) and rules promulgated by the Oklahoma Health Care Authority Board.

• Defines "statewide median of nursing facility payments" as the median of payments to nursing facilities excluding incentive payments made pursuant to Section 1011.5 of Title 56.

• Declares an emergency, making the act effective immediately upon passage and approval.