Section 441.75.15. Disqualification for long-term care assistance due to substantial home equity.

Notwithstanding any other provision of this chapter, if an individual’s equity interest in the individual’s home exceeds $500,000, the individual shall not be eligible for medical assistance with respect to nursing facility services or other long-term care services except as provided in 75.15(2). This provision is effective for all applications or requests for payment of long-term care services filed on or after January 1, 2006.

       75.15(1) The limit on the equity interest in the individual’s home for purposes of this rule shall be increased from year to year, beginning with 2011, based on the percentage increase in the consumer price index for all urban consumers (all items; United States city average), rounded to the nearest $1,000.

       75.15(2) Disqualification based on equity interest in the individual’s home shall not apply when one of the following persons is lawfully residing in the home:

        a.           The individual’s spouse; or

        b.           The individual’s child who is under age 21 or is blind or disabled as defined in Section 1614 of the federal Social Security Act.

This rule is intended to implement Iowa Code section 249A.4.