Retroactively effective July 6, 2020:

1. (1) The uncompensated value of a disqualifying transfer of an asset is used in OAR 461-140-0260 to 461-140-0300 to calculate the ineligibility period of the financial group (see OAR 461-110-0530).

2. (2) To determine uncompensated value:

   1. (a) In the OSIP and OSIPM programs:

      1. (A) The value of the compensation received for the asset is subtracted from the fair market value (see OAR 461-001-0000) of the asset.

         1. (i) For transfers made on or after the Date of Request for long-term care (see OAR 461-001-0000) or home and community-based care (see OAR 461-001-0030), this result is the uncompensated value.
         2. (ii) For transfers made before the date of request for long-term care (see OAR 461-001-0000) or home and community-based care (see OAR 461-001-0030), this result is the uncompensated value unless the financial group had countable (see OAR 461-001-0000) resources of less than the resource limit at the time of the first transfer. If the financial group had countable resources of less than the resource limit in OAR 461-160-0015 at the time of the first transfer. In that event the remainder (the resource limit minus the countable resources) is then credited by adding it to the other compensation received for the asset.
      2. (B) For an annuity, unless the individual verifies a lesser amount, the fair market value is equal to the amount of money used to establish the annuity, plus any additional payments used to fund the annuity, plus any earnings, minus any regular monthly payments already received, minus early withdrawals, and minus any surrender fees.
   2. (b) In all other programs, the value of the compensation received for the resource is subtracted from the fair market value of the resource. The remainder is added to the other countable resources at the time of the transfer. The amount by which the sum exceeds the resource limit is the uncompensated value.

   3. (c) The compensation received for a transferred asset includes;

      1. (A) Encumbrances assumed by the buyer; and
      2. (B) Goods or services provided to the individual, limited to their true value, if there was a prior agreement to exchange the asset for the goods or services.

Statutory/Other Authority

ORS 409.050, 411.060, 411.070, 411.404, 411.706, 411.816, 412.049, 413.085 & 414.685

Statutes/Other Implemented

ORS 409.010, 409.050, 410.020, 411.060, 411.070, 411.404, 411.632, 411.706, 411.816, 412.049, 413.085, 414.685 & 414.839

History

SSP 21-2020, amend filed 07/08/2020, effective 07/08/2020
SSP 31-2016, f. & cert. ef. 9-1-16
SSP 25-2016(Temp), f. 6-30-16, cert. ef. 7-1-16 thru 12-27-16
SSP 35-2015, f. 12-23-15, cert. ef. 1-1-16
SSP 14-2006, f. 9-29-06, cert. ef. 10-1-06
SSP 11-2006(Temp), f. 6-30-06, cert. ef. 7-1-06 thru 9-30-06
AFS 5-2002, f. & cert. ef. 4-1-02
AFS 10-2000, f. 3-31-00, cert. ef. 4-1-00
AFS 80-1989, f. 12-21-89, cert. ef. 2-1-90