Last year, the Department of Health & Mental Hygiene and Department of Human Resources collaborated to develop strategies to address the delayed processing of long term care applications. The Deficit Reduction Act of 2005 lengthened the 36 month look-back period for initial long term care applications to 60 months prior to the month of the initial application. This resulted in an increased workload which translated into the delay. As of May 1, 2011, applicants will no longer be required to provide 60 months of bank and financial statement in order to evaluate the look back period. The following documents are now required:
1) An exact copy of the federal tax returns (all forms and schedules) as filed and processed with the IRS for the current tax years and the preceding four years.
2) Bank* and financial statements** for the month of application
3) Bank* and financial statements** for the month prior to the month of application.
4) Bank* and financial statements** for the last five years of the anniversary month of application.
* Bank statements include credit union accounts.
** Financial statements include, but are not limited to, trust funds, IRA or Keough accounts, stocks or bonds, money market funds, CD’s, etc. Online bank and financial statements are acceptable.
Also, as of January 1, 2012, the Community Spouse Resource Allowance increased to $113,640.
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