Ill. Admin. Code tit. 89, § 120.382 - Resource Disregard
a) In addition to
the exempt resources listed in Section
120.381, the cash value of
resources shall be disregarded for AABD MANG as follows:
1) $17,500 for a single person or married
couple, along with any dependents.
2) Resources equal in amount to the benefits
paid on behalf of a person under a qualified long term care insurance policy as
provided under 42 U.S.C.
1396p(b)(1)(C) and (b)(5).
Policies written in Illinois are approved by the Director of the Illinois
Department of Insurance under the Qualified Long Term Care Insurance
Partnership (QLTCIP) program (50 Ill. Adm. Code 2012). The dollar value of the
amount paid for QLTCIP benefits is disregarded; the extent to which the
disregard is applied to a resource will depend and may vary with the underlying
equity value (see Section
120.381(a)(6))
the person holds in the resource.
b) Eligibility for medical assistance or the
benefits described in Sections
120.72 and
120.73 does not exist when
nonexempt resources exceed allowable disregards outlined in subsection
(a).
c) For Qualified Medicare
Beneficiaries (QMBs), Specified Low-Income Medicare Beneficiaries (SLIBs), and
Qualified Individuals-1 (QI-1)
1) An amount
not to exceed the maximum resource level applied for the year under section
1860D-14(a)(3)(D) of the Social Security Act (42 U.S.C.
1395w-114(a)(3)(D))
shall be disregarded.
2)
Eligibility for QMB, SLIB or QI-1 status does not exist when resources exceed
the disregard amounts described in subsection (c)(1).
Notes
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