514H.1 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Deficit Reduction Act of 2005” means section 6021(a)(1)(A) of Pub. L. No. 109-171 as it pertains to the expansion of state long-term care insurance partnership programs. 2. “Long-term care facility” means a facility licensed under chapter 135C or an assisted living program […]
514H.2 Iowa long-term care asset disregard incentive program — establishment and administration. 1. The Iowa long-term care asset disregard incentive program is established to do all of the following: a. Provide incentives for individuals to insure against the costs of providing for their long-term care needs. b. Provide a mechanism for individuals to qualify for […]
514H.3 Eligibility. An individual who is the beneficiary of a qualified long-term care insurance policy approved by the insurance division may be eligible for assistance under the medical assistance program using the asset disregard provisions pursuant to section 514H.5. 2005 Acts, ch 166, §4, 13; 2009 Acts, ch 145, §16 Referred to in §514H.5
514H.4 Insurer requirements. An insurer or other person who wishes to issue a qualified long-term care insurance policy in Iowa shall conform with all policy guidelines as expressed in the Deficit Reduction Act of 2005 and in Iowa law and rules. 2005 Acts, ch 166, §5, 13; 2009 Acts, ch 145, §17 Referred to in […]
514H.5 Asset disregard adjustment. 1. As used in this section, “asset disregard” means a one dollar increase in the amount of assets an individual who is the beneficiary of a qualified long-term care insurance policy and meets the requirements of section 514H.3 may retain under section 249A.35 for each one dollar of benefit paid out […]
514H.6 Application of asset disregard to determination of individual’s assets. A public program administered by the state that provides long-term care services and bases eligibility upon the amount of the individual’s assets shall apply the asset disregard under section 514H.5 in determining the amount of the individual’s assets. 2005 Acts, ch 166, §7, 13
514H.7 Prior program — discontinuation of program. 1. If the Iowa long-term care asset disregard incentive program is discontinued, an individual who is covered by a qualified long-term care insurance policy prior to the date the program is discontinued is eligible to continue to receive an asset disregard as defined under section 514H.5. 2. An […]
514H.8 Reciprocal agreements to extend asset disregard. The division responsible for medical services within the department of human services may enter into reciprocal agreements with other states to extend the asset disregard under section 514H.5 to Iowa residents who had purchased or were covered by qualified long-term care insurance policies in other states. 2005 Acts, […]
514H.9 Rules. The insurance division of the department of commerce in cooperation with the department of human services shall adopt rules pursuant to chapter 17A as necessary to administer this chapter. 2005 Acts, ch 166, §10, 13; 2009 Acts, ch 145, §21
