1. Sections 208.690 to 208.698 shall be known and may be cited as the “Missouri Long-term Care Partnership Program Act”.

2. As used in sections 208.690 to 208.698, the following terms shall mean:

Terms Used In Missouri Laws 208.690

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020

(1) “Asset disregard”, the disregard of any assets or resources in an amount equal to the insurance benefit payments that are used on behalf of the individual;

(2) “Missouri qualified long-term care partnership approved policy”, a long-term care insurance policy certified by the director of the department of commerce and insurance as meeting the requirements of:

(a) The National Association of Insurance Commissioners’ Long-term Care Insurance Model Act and Regulation as specified in 42 U.S.C. § 1917(b); and

(b) The provisions of Section 6021 of the Federal Deficit Reduction Act of 2005;

(3) “MO HealthNet”, the medical assistance program established in this state under Title XIX of the federal Social Security Act;

(4) “State plan amendment”, the state MO HealthNet plan amendment to the federal Department of Health and Human Services that, in determining eligibility for state MO HealthNet benefits, provides for the disregard of any assets or resources in an amount equal to the insurance benefit payments that are made to or on behalf of an individual who is a beneficiary under a qualified long-term care insurance partnership policy.