OAR 461-140-0250: Determining The Uncompensated Value of a Transferred Asset

(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) To determine uncompensated value: (a) For individuals applying for or receiving Department-paid nursing facility services or home and community-based care (see OAR 461-001-0000): (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. (i) For transfers made on or after the date of request for nursing facility services or home and community-based care , this result is the uncompensated value. (ii) For transfers made before the date of request for nursing facility services 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, the remainder (the resource limit minus the countable resources) is then credited by adding it to the other compensation received for the asset. (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. (C) The value of the compensation received for an asset to which an individual is entitled and chooses to pursue (see OAR 461-140-0242) includes the amount received plus the costs associated with obtaining the asset, such as a personal injury attorney's contingency fee. (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. (c) The compensation received for a transferred asset includes all of the following; (A) Encumbrances assumed by the buyer or otherwise discharged as a result of the transfer; (B) Any costs associated with the transfer, including but not limited to negotiated closing costs, escrow fees, and title fees; and (C) 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.