26 Tex. Admin. Code § 554.404 - Protection of Resident Funds
(a)
Management of financial affairs. The resident has the right to manage the
resident's financial affairs and the facility may not require a resident to
deposit their personal funds with the facility. A resident may designate
another person to manage the resident's financial affairs.
(b) Management of personal funds.
(1) Licensed-only facilities. Upon written
authorization of a resident, the facility may hold, safeguard, manage, and
account for the personal funds of the resident deposited with the facility. The
facility will act as a fiduciary agent if the facility holds, safeguards, and
accounts for the resident's personal funds.
(2) Medicaid-certified facilities. Upon
written authorization of a resident, the facility must hold, safeguard, manage,
and account for the personal funds of the resident deposited with the facility,
as described in §
554.405 of this subchapter
(relating to Additional Requirements for Trust Funds in Medicaid-certified
Facilities). The facility will act as a fiduciary agent if the facility holds,
safeguards, and accounts for the resident's personal funds.
(c) Statement of resident rights
and responsibilities. The facility must provide each resident and resident
representative with a written statement at the time of admission that meets the
following requirements:
(1) the statement
describes the resident's rights to select how personal funds will be handled.
The following alternatives must be included:
(A) the resident has the right to manage the
resident's financial affairs;
(B)
the facility may not require a resident to deposit the resident's personal
funds with the facility;
(C) the
facility has an obligation, upon written authorization of a resident, to hold,
safeguard, manage, and account for the personal funds of the resident deposited
with the facility;
(D) the resident
has a right to apply to the Social Security Administration to have a
representative payee designated for federal or state benefits to which the
resident may be entitled; and
(E)
except when subparagraph (D) of this paragraph applies, the resident has a
right to designate in writing another person to manage the resident's personal
funds;
(2) the statement
notes, when applicable, that any charge for the facility handling a Medicaid
recipient's personal funds is included in the facility's basic rate;
and
(3) the statement advises the
resident that the facility must have written permission from the resident or
resident representative to handle the resident's personal funds.
Notes
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