96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB0687


 
Introduced 2/6/2009, by Sen. John J. Cullerton
 
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.
















LRB096 06751 RPM 16835 b

















 


 


A BILL FOR









 











SB0687

LRB096 06751 RPM 16835 b






1
    AN ACT concerning regulation.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:

 
4
    Section 5. The Illinois Long-Term Care Partnership Program 
5
Act is amended by changing Section 10 as follows:
 
6
    (215 ILCS 132/10)

7
    Sec. 10. Definitions. As used in this Act:
8
    "Agency" means the
the  Department of Healthcare and Family 
9
Services.
10
    "Asset disregard" means, with respect to qualification for 
11
State Medicaid benefits, the

disregard of any assets or 
12
resources in an amount equal to the insurance benefit payments 
13
that are made to or on the behalf of an individual who is a 
14
beneficiary under a qualified long-term care insurance 
15
partnership policy. 
16
    "Department" means the Department of Financial and 
17
Professional Regulation.
18
    "Medicaid" means the federal medical assistance program 
19
established under Title XIX

of the Social Security Act.


20
    "Qualified long-term care insurance partnership policy" 
21
means a policy that meets all of the following requirements:
22
        (1) it covers an insured who was a resident of Illinois 
23
    when coverage first became effective under the policy;


 


 






SB0687
- 2 -
LRB096 06751 RPM 16835 b




1
        (2)   it is a qualified long-term care insurance policy 
2
    as defined in Section 7702B(b) of the Internal Revenue Code 
3
    of 1986 issued not earlier than the effective date of the 
4
    State plan amendment;


5
        (3) it meets the model regulations and requirements of 
6
    the National Association of Insurance Commissioners model 
7
    specified in paragraph (5) of Title VI, Section 6021 of the 
8
    federal Deficit Reduction Act of 2005, and the Director of 
9
    the Division of  Insurance of the Department  certifies it as 
10
    meeting these requirements; and
11
        (4) if the policy is sold to an individual who:


12
            (A) has not attained age 61 as of the date of 
13
        purchase, the policy provides compound annual 
14
        inflation protection;


15
            (B) has attained age 61 but has not attained age 76 
16
        as of such date, the policy provides some level of 
17
        inflation protection; or
18
            (C) has attained age 76 as of such date, the policy 
19
        may, but is not required to, provide some level of 
20
        inflation protection.


21
    "State plan amendment" means a State Medicaid plan 
22
amendment made to the federal

Department of Health and Human 
23
Services that provides for the disregard of any assets or 
24
resources in an amount equal to the insurance benefit payments 
25
that are made to or on the behalf of an individual who is a 
26
beneficiary under a qualified long-term care insurance 
 


 






SB0687
- 3 -
LRB096 06751 RPM 16835 b




1
partnership policy.



2
(Source: P.A. 95-200, eff. 8-16-07.)