Oklahoma Administrative Code › Title 317 - Oklahoma Health Care Authority › Chapter 30 - Medical Providers-Fee for Service › Subchapter 5 - Individual Providers and Specialties › Part 9 - LONG-TERM CARE FACILITIES › Section 317:30-5-125 - Trust funds

Current through Vol. 41, No. 20, July 1, 2024
When a new member is admitted to a nursing facility, the
					 administrator will complete and send to the county office the Management of
					 Recipient's Funds form to indicate whether or not the member has requested the
					 administrator to handle personal funds. If the administrator agrees to handle
					 the member's funds, the Management of Recipient's Funds form will be completed
					 each time funds or other items of value, other than monthly income, are
					 received.
(1) The facility may use
				  electronic ledgers and bank statements as the source documentation for each
				  member for whom they are holding funds or other items of value. This
				  information must be available at all times for inspection and audit purposes.
				  The facility must have written policies that ensure complete accounting of the
				  member's personal funds. All member funds which are handled by the facility
				  must be clearly identified and maintained separately from funds belonging to
				  the facility or to private patients. When the total sum of all funds for all
				  members is $250.00 or more, they must be deposited by the facility in a local
				  bank account designated as "Recipient's Trust Funds." The funds are not to be
				  commingled with the operating funds of the facility. Each resident in an
				  ICF/IID facility must be allowed to possess and use money in normal ways or be
				  learning to do so.
(2) The
				  facility is responsible for notifying the county office at any time a member's
				  account reaches or exceeds the maximum reserve by use of the
				  Accounting-Recipient's Personal Funds and Property form. This form is also
				  prepared by the facility when the member dies or is transferred or discharged,
				  and at the time of the county eligibility review of the member .
(3) The Management of Recipient's Funds form,
				  the Accounting-Recipient's Personal Funds and Property form , and the Ledger
				  Sheets for Recipient's Account are available online at
http://www.okdhs.org/
.
(4) When the ownership or operation of the
				  facility is discontinued or where the facility is sold and the members' trust
				  funds are to be transferred to a successor facility, the status of all members'
				  trust funds must be verified by the OHCA and/or the buyer must be provided with
				  written verification by an independent public accountant of all residents'
				  monies and properties being transferred, and a signed receipt obtained from the
				  owner. All transfers of r a member's trust funds must be acknowledged, in
				  writing, by the transferring facility and proper receipts given by the
				  receiving facility.
(5) Unclaimed
				  funds or other property of deceased members , with no known heirs, must be
				  reported to the Oklahoma Tax Commission.
(6) It is permissible to use an individual
				  trust fund account to defray the cost of last illness, outstanding personal
				  debts and burial expenses of a deceased member of the OHCA ; however, any
				  remaining balance of unclaimed funds must be reported to the Oklahoma Tax
				  Commission. The Unclaimed Property Division, Oklahoma Tax Commission, State
				  Capitol Complex, Oklahoma City, Oklahoma, is to be notified for disposition
				  instructions on any unclaimed funds or property. No money is to be sent to the
				  Oklahoma Tax Commission until so instructed by the Unclaimed Property Division.
(7) Books, records, ledgers,
				  charge slips and receipts must be on file in the facility for a period of six
				  (6) years and available at all times in the facility for inspection and audit
				  purposes.
Added at 12 Ok Reg
					 751, eff 1-5-95 through 7-14-95 (emergency); Added at 12 Ok Reg 3131, eff
					 7-27-95; Amended at 14 Ok Reg 265, eff 9-17-96 (emergency); Amended at 14 Ok
					 Reg 1780, eff 5-27-97