Or. Admin. Code § 461-140-0295

Current through Register Vol. 63, No. 10, October 1, 2024

Section 461-140-0295 - Length of Disqualification Due to a Resource Transfer; October 1, 1993, through September 30, 1998

(1) A GA, GAM, OSIP, OSIPM or QMB financial group containing a member disqualified due to the transfer of a resource is disqualified from receiving benefits if the group filed an application for benefits between October 1, 1993, and September 30, 1998.

(2) The disqualification period:

(a) Begins the first day of the month the resource was transferred.

(b) Is the number of months equal to the uncompensated value (see OAR 461-140-0250) divided by $2,595, rounded down to the next whole number. This calculation applies to the cumulative value of all disqualifying resource transfers made by the client or the client's spouse within the look back period.

(3) If a resource is owned by more than one person, by joint tenancy, tenancy in common or similar arrangement, the share of resource owned by the client is considered transferred when any action is taken either by the client or any other person that reduces or eliminates the client's control or ownership in the client's share of the resource.

(4) If an annuity is purchased that pays benefits beyond the life expectancy of the client, as determined by the annuity, a disqualification period will be assessed for the value of the annuity beyond the life expectancy of the annuitant.

Or. Admin. Code § 461-140-0295

AFS 18-1993(Temp), f. & cert. ef. 10-1-93; AFS 29-1993, f. 12-30-93, cert. ef. 1-1-94; AFS 6-1994, f. & cert. ef. 4-1-94; AFS 10-1995, f. 3-30-95, cert. ef. 4-1-95; AFS 17-1998, f. & cert. ef. 10-1-98; AFS 10-2000, f. 3-31-00, cert. ef. 4-1-00

Stat. Auth.: ORS 411.060

Stats. Implemented: ORS 411.060 & ORS 411.632