The following words and phrases when used in this chapter have the meanings given to them unless the context clearly indicates otherwise:
(1)  "Asset disregard" means the total assets an individual owns and may retain under medicaid and still qualify for benefits at the time the individual applies for benefits if the individual is a beneficiary of a long-term care partnership program approved policy.

Terms Used In Idaho Code 56-1302

  • 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
  • Department: means the department of health and welfare. See Idaho Code 56-1302
  • Medicaid: means the federal medical assistance program established under title XIX of the social security act. See Idaho Code 56-1302
  • 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 the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(2)  "Department" means the department of health and welfare.
(3)  "Long-term care partnership program approved policy" means a long-term care insurance policy which is approved by the department of insurance and is provided through state approved long-term care insurers through the Idaho long-term care partnership program.
(4)  "Medicaid" means the federal medical assistance program established under title XIX of the social security act.