SB 226 - This act requires certain cost-containment measures within the Medicaid program.
The Department of Social Services shall conduct an annual income and eligibility verification review for each recipient of medical assistance. The review shall be completed no later than twelve months after the recipient's last eligibility review determination. The act specifies how the verification review may be completed and also requires participants to provide documentation for income verification. The Department must establish by rule the procedures for requiring recipients or applicants to disclose certain information about the availability of employer-sponsored health care and their employment status at the time of application or eligibility verification review.
For Medicaid eligibility, investments in annuities shall be limited to annuities which:
-are actuarially sound as measured against the Social Security Administration Life Expectancy Tables;
-provide equal payments for its' duration; and
-provide Missouri with secondary or contingent beneficiary status in an amount equal to the Medicaid expenditure made on the individual's behalf.
The Department must establish a thirty-six month look-back period to review investments in annuities made by applicants for Medicaid benefits. The Department shall also have rule-making authority to implement the provisions of Section 208.212.