Iowa Admin. Code r. 441-89.2 - Creation of debt
Current through Register Vol. 44, No. 20, April 6, 2022
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441—89.2(249F) Creation of debt.
89.2(1) Transfer of property. Except as provided in rule 441—89.3(249F), any transfer of property for less than fair market value creates a debt due and owing to the department from the transferee if:
a. The transfer is made while the transferor is receiving medical assistance or within five years prior to application for medical assistance and on or after July 1, 1993.
b. The transfer is made with the intent on the part of the transferee of enabling the transferor to obtain or maintain eligibility for medical assistance.
89.2(2) Amount of debt. The amount of the debt is the lesser of:
a. An amount equal to the medical assistance provided to or on behalf of the transferor on or after the date of the transfer.
b. The difference between the fair market value of the property at the time of transfer and the value of any consideration received.