STATE OF OKLAHOMA

2nd Session of the 53rd Legislature (2012)

SENATE BILL 1273	By:	Ivester

AS INTRODUCED

An Act relating to Medicaid Income Pension Trusts; permitting certain individuals to create a Medicaid Income Pension Trust in specified circumstances; requiring trust to be in compliance with certain regulations; defining term; providing for codification; and declaring an emergency.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 5060 of Title 63, unless there is created a duplication in numbering, reads as follows:
A.  Individuals applying for institutional care whose income is in excess of categorical needy standards but whose income does not exceed the combined costs of the statewide median of nursing facility payments plus the cost of the individual’s Medicare Part B premium, the cost of the individual’s Medicare supplemental health insurance policy, the cost of the individual’s Part D premium, and the individual’s monthly maintenance standard as specified in the Department of Human Services’ Appendix C-1 Schedule VIII may create an income pension trust.  The Medicaid Income Pension Trust shall be in compliance with 42 U.S.C., Section 1396p(d)(4) and rules promulgated by the Oklahoma Health Care Authority Board regarding such trusts.
B.  For purposes of this section, the term “statewide median of nursing facility payments” means the median of payments excluding incentive payments made to nursing facilities pursuant to Section 1011.5 of Title 56 of the Oklahoma Statutes.
SECTION 2.  It being immediately necessary for the preservation of the public peace, health and safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.

53-2-2174	JM	1/17/2012 3:38:57 PM