96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB2862


 
Introduced 2/24/2009, by Rep. Tom Cross
 
SYNOPSIS AS INTRODUCED:
 		













215 ILCS 132/10










    Amends the Illinois Long-Term Care Partnership Program Act. Makes a technical change in a Section concerning definitions.
















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A BILL FOR









 











HB2862

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    AN ACT concerning regulation.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:

 
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    Section 5. The Illinois Long-Term Care Partnership Program 
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Act is amended by changing Section 10 as follows:
 
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    (215 ILCS 132/10)

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    Sec. 10. Definitions. As used in this Act:
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    "Agency" means the
the  Department of Healthcare and Family 
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Services.
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    "Asset disregard" means, with respect to qualification for 
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State Medicaid benefits, the

disregard of any assets or 
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resources in an amount equal to the insurance benefit payments 
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that are made to or on the behalf of an individual who is a 
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beneficiary under a qualified long-term care insurance 
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partnership policy. 
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    "Department" means the Department of Financial and 
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Professional Regulation.
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    "Medicaid" means the federal medical assistance program 
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established under Title XIX

of the Social Security Act.


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    "Qualified long-term care insurance partnership policy" 
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means a policy that meets all of the following requirements:
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        (1) it covers an insured who was a resident of Illinois 
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    when coverage first became effective under the policy;


 


 






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        (2)   it is a qualified long-term care insurance policy 
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    as defined in Section 7702B(b) of the Internal Revenue Code 
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    of 1986 issued not earlier than the effective date of the 
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    State plan amendment;


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        (3) it meets the model regulations and requirements of 
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    the National Association of Insurance Commissioners model 
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    specified in paragraph (5) of Title VI, Section 6021 of the 
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    federal Deficit Reduction Act of 2005, and the Director of 
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    the Division of  Insurance of the Department  certifies it as 
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    meeting these requirements; and
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        (4) if the policy is sold to an individual who:


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            (A) has not attained age 61 as of the date of 
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        purchase, the policy provides compound annual 
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        inflation protection;


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            (B) has attained age 61 but has not attained age 76 
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        as of such date, the policy provides some level of 
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        inflation protection; or
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            (C) has attained age 76 as of such date, the policy 
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        may, but is not required to, provide some level of 
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        inflation protection.


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    "State plan amendment" means a State Medicaid plan 
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amendment made to the federal

Department of Health and Human 
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Services that provides for the disregard of any assets or 
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resources in an amount equal to the insurance benefit payments 
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that are made to or on the behalf of an individual who is a 
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beneficiary under a qualified long-term care insurance 
 


 






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partnership policy.



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(Source: P.A. 95-200, eff. 8-16-07.)