Section 240.810 Assets

Section 240

Section 240.810  Assets

a)         To be eligible to receive CCP services, a participant shall

not own interest in non-exempt assets having a combined value in excess of $17,500,

if:

1)         unmarried; or

2)         married and:

A)        spouse is receiving CCP services;

B)        spouse is in a nursing facility;

C)        spouse does not reside on a permanent basis with, and does not

receive support from or give support to, the participant;

D)        spouse is abandoned; or

E)        spouse is potentially abusing the participant.

EXCEPTION:  A

participant, who is married and the spouse does not receive CCP services, shall

not own interest in non-exempt assets having a total value in excess of the

asset disregard amount allowed by HFS for Medicaid in a pre-paid burial plan or

life insurance policy + burial merchandise. Non-exempt assets having value over

the asset disregard amount up to the amount allowed by the Community Spouse

Asset Allowance, as adopted by HFS at 89 Ill. Adm. Code 120.379(d), must be

transferred to or for the sole benefit of the community spouse.  If the couple

owns assets that exceed the asset disregard and prevention of spousal

impoverishment amounts allowed by statute, the excess (up to the amount of

non-exempt assets allowed after transfer, and/or up to the amount of countable

monthly income allowed after diversion) shall be designated as a spend down, to

be spent before Medicaid enrollment is established.

b)         The value of non-exempt assets shall be considered in

determining eligibility for CCP.

c)         All assets not specifically exempt are non-exempt

xcess (up to the amount of

non-exempt assets allowed after transfer, and/or up to the amount of countable

monthly income allowed after diversion) shall be designated as a spend down, to

be spent before Medicaid enrollment is established.

b)         The value of non-exempt assets shall be considered in

determining eligibility for CCP.

c)         All assets not specifically exempt are non-exempt.

d)         When a participant's non-exempt assets are greater than the

allowable disregard as specified in subsection (a), consideration of non-liquid

assets may be deferred as follows:

1)         real property may be deferred from consideration for six

months;

2)         the participant shall sign an agreement to dispose of the real

property in excess of the allowable disregard within six months after the date

of the agreement; and

3)         the six-month period for disposition may be extended an

additional six months if the participant fails to dispose of the asset (through

no fault of their own) despite reasonable and diligent effort.