South Dakota Codified Laws 28-6-37. Eligibility for nursing and rehabilitative services–Countable assets reduced by long-term care partnership program policy benefits
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When determining eligibility for nursing and rehabilitative services, if the individual is a beneficiary of an approved long-term care partnership program policy, the total countable assets of the individual shall be reduced by one dollar for each one dollar of benefits paid out under the individual’s approved long-term care partnership program policy. The Department of Social Services is authorized to seek any federal waivers to implement this policy.
Terms Used In South Dakota Codified Laws 28-6-37
- 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
- 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.
Source: SL 2006, ch 149, § 1; SL 2008, ch 142, § 1.