Indiana Code
Chapter 1. Administration
12-15-1-21.7. Life Insurance Policy Treatment

Sec. 21.7. (a) To the extent allowed by federal law, the office may use federal or state funds under the Medicaid program to pay premiums and other expenses related to a life insurance policy that is in force and owned by an applicant or a recipient who:
(1) is:
(A) at least fifty-five (55) years of age; or
(B) permanently institutionalized; and
(2) has:
(A) made an irrevocable election to name the state as a beneficiary of the life insurance policy for an amount equal to:
(i) Medicaid benefits provided to the recipient under IC 12-15-5 or IC 12-14-17; plus
(ii) premiums or expenses paid by the office to the insurer that issued the life insurance policy; or
(B) collaterally assigned the life insurance policy to the state under a written agreement submitted to and recorded by the insurer that issued the life insurance policy.
(b) Any life insurance policy that is in force and under which the state is named as an irrevocable beneficiary or that has been collaterally assigned to the state may not be sold, assigned, or the ownership transferred to any person or entity. This restriction exists as long as the life insurance policy names the state as an irrevocable beneficiary or as long as the life insurance policy is collaterally assigned to the state.
(c) Life insurance policy proceeds that exceed the amount of Medicaid benefits provided to a recipient shall be paid to a beneficiary named by the applicant or recipient.
As added by P.L.196-2011, SEC.1.

Structure Indiana Code

Indiana Code

Title 12. Human Services

Article 15. Medicaid

Chapter 1. Administration

12-15-1-1. Administration of Medicaid Program

12-15-1-2. Agents of the Division of Family Resources

12-15-1-3. Supervision of County Offices

12-15-1-4. Written Protocols; Contracts Implementing State Program

12-15-1-5. Agreement With Commissioner of the United States Social Security Administration; Eligibility Determinations for Aged, Blind, and Disabled; Authorization to Request Transition Change for Determinations

12-15-1-6. Agreement With Secretary of United States Department of Health and Human Services; Division of Administrative Costs

12-15-1-7. Agreement With Secretary of United States Department of Health and Human Services; Eligibility Determinations After January 1, 1974

12-15-1-8. Receipt of Assistance in Adult Category Before January 1, 1974; Automatic Coverage

12-15-1-9. Application to County Offices

12-15-1-10. Administrative Actions and Directions; Adoption of Procedures and Rules

12-15-1-11. Money Received From Recipient or Collected From Estate; Payment Into Medicaid Account; Apportionment

12-15-1-12. Attorney General; Appearance and Representation of State in Proceedings Affecting Property or Resources Upon Which State May Have Claim

12-15-1-13. Annual Effectiveness Evaluation

12-15-1-14. Effectiveness Evaluation; Annual Report to Legislative Council

12-15-1-15. Assignment, Enforcement, and Collection of Rights of Payment; Contracts for Administration of Program; Rules

12-15-1-16. School Corporations; Enrollment in Medicaid Program; Sharing Reimbursable Costs; School Based Covered Services

12-15-1-17. Reimbursement From Parent for Health Services Provided to Child

12-15-1-18. Use of Funds to Encourage Application and Enrollment of Minors

12-15-1-19. Contracts With Community Entities

12-15-1-20. Implementation of Policy of Funds Following an Individual Transferring to Community Based Care

12-15-1-20.2. Computer System for Disproportionate Share Hospital Payment Program; Hci; Upl

12-15-1-20.4. Suspension of Medicaid for Delinquent Child or Incarcerated Individual

12-15-1-21. Single Electronic Medicaid Eligibility Verification System

12-15-1-21.2. Plan to Qualify Services for Exceptional Learners; Recovery of State Share of Cost of Services

12-15-1-21.7. Life Insurance Policy Treatment

12-15-1-22. Visit to Medicaid Provider Offices, Entities, or Facilities; Rules