- TO:
- ALL COUNTY OFFICES
- FROM:
- JANEL R. LUCK, DIRECTOR
- SUBJECT:
- NEW ANNUITY CODE IN FAMIS
DISCUSSION:
This memorandum introduces a new resource code "AN-Annuity" to better identify an annuity liquid resource in FAMIS.
The decision whether or not to count the annuity as income or resources has not changed for any program. If an annuity is currently coded as a trust on the Select Financial Resource (FMWB) screen in FAMIS, update the type to "AN-Annuity" at the next Food Stamp recertification or at the Food Stamp mid-certification review.
The new resource code does not change Temporary Assistance (TA) policy. Continue to follow current policy and update the resource at the next recertification or contact with the household. An IM-14 can be sent for cases when staff is unsure how to handle the annuity.
Entry of the new annuity resource code does not affect eligibility for MO HealthNet for Families, MO HealthNet for Pregnant Women, and MO HealthNet for Kids Non SCHIP programs. Policy has not changed.
For MO HealthNet SCHIP premium cases, the value of the annuity resource is considered in the net worth determination. Entry in the resource screen (FMWB or SELFRES) does not populate the NETWORTH (FMH1) screen. It will be necessary to consider and include the annuity value in the net worth determination. A new resource code of "AN-annuity" has been added to the NETWORTH (FMH1) screen.
NECESSARY ACTION:
- Review this memorandum with appropriate staff.