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2015 SESSION

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15101416D
HOUSE BILL NO. 2387 Offered January 23, 2015 A BILL to amend the Code of Virginia by adding a section numbered 32.1-325.001, relating to medical assistance; asset verification; financial institutions to provide certain records. ---------- Patron-- Sickles ---------- Referred to Committee on Commerce and Labor ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 32.1-325.001 as follows:

§ 32.1-325.001. Asset verification for applicants and recipients of medical assistance; financial institutions to disclose certain records.

A. The Department shall establish an electronic financial record matching program for the purpose of verifying the assets of applicants for and recipients of medical assistance for individuals who are aged, blind or disabled, or individuals who are receiving long-term care, in accordance with the requirements of 42 U.S.C. §1396w.

B. Every financial institution, as defined in § 6.2-100, in the Commonwealth shall provide financial records of applicants for and recipients of medical assistance and all other individuals whose resources are required to be considered in determining whether an applicant or recipient is eligible for medical assistance to the Department, for the purpose of determining an applicant's or recipient's eligibility for medical assistance. The Department may reimburse financial institutions in an amount not to exceed actual amounts incurred by the financial institution when complying with the requirements of this section.