CHAPTER 154
HB 758-FN - FINAL VERSION
25mar03... 0341h
29may03... 1915eba
2003 SESSION
01/09
HOUSE BILL 758-FN
AN ACT relative to the criteria for medicaid eligibility.
SPONSORS: Rep. Kurk, Hills 48; Sen. Sapareto, Dist 19; Sen. Martel, Dist 18
COMMITTEE: Health, Human Services and Elderly Affairs
This bill prohibits the use of certain monetary devices as a method of sheltering wealth for the purposes of medicaid eligibility.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25mar03... 0341h
29may03... 1915eba
03-0243
01/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Three
AN ACT relative to the criteria for medicaid eligibility.
Be it Enacted by the Senate and House of Representatives in General Court convened:
154:1 New Paragraph; Eligibility for Assistance. Amend RSA 167:4 by inserting after paragraph III the following new paragraph:
IV.(a) It is hereby found and determined by the general court that the medicaid eligibility laws of this state are in need of amendment to assure that otherwise ineligible individuals are prevented from artificially impoverishing themselves to receive benefits to which they are not otherwise entitled and to facilitate recovery of improperly obtained benefits and to assure the fiscal integrity of the funds appropriated for medicaid.
(b) Notwithstanding any provision of law to the contrary, for purposes of medicaid eligibility, investment in annuities shall be limited to those annuities that:
(1) Are actuarially sound as measured against the Social Security Administration Life Expectancy tables as amended;
(2) Provide equal or nearly equal payments for the duration of the device and which exclude "balloon" style final payments; and
(3) Provide state of New Hampshire secondary or contingent beneficiary status ensuring payment if the individual predeceases the duration of the annuity, in an amount equal to the medicaid expenditure made by the state of New Hampshire on the individual's behalf.
(c) The commissioner of the department of health and human services shall adopt rules, pursuant to RSA 541-A, relative to the proper administration of this paragraph.
154:2 Effective Date. This act shall take effect 60 days after its passage.
(Approved: June 17, 2003)
(Effective Date: August 16, 2003)