Medicaid:

Some Recipients Neglect to Report U.S. Savings Bond Holdings

HRD-89-43: Published: Jan 18, 1989. Publicly Released: Jan 18, 1989.

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GAO examined income and asset reporting by Medicaid recipients in nursing homes to determine the: (1) effectiveness of states' policies and procedures for verifying savings bond holdings; and (2) extent of holdings of recipients residing in Massachusetts nursing homes.

GAO found that: (1) as of April 1986, 143 Medicaid nursing home residents in Massachusetts had savings bond holdings in excess of the $2,000 statutory limit; (2) the residents had outstanding bonds worth a total of about $1.5 million, with individual holdings ranging from $2,000 to over $60,000; (3) 48 of 57 recipients' records did not disclose bond ownership or redemptions, while 1 made partial disclosure; (4) the 49 individuals should have been disqualified from receiving Medicaid benefits for filing false or incomplete applications; and (5) states did not have access to the Department of the Treasury's savings bond data files to verify individual Medicaid applicants' and recipients' bond holdings or redemptions.

Matters for Congressional Consideration

  1. Status: Closed - Not Implemented

    Comments: Congress has taken no action since the report was issued.

    Matter: The Committees should report to Congress a legislative proposal to amend income and eligibility verification system requirements to expand information available to states under the systems to include data files maintained by the Department of the Treasury on U.S. savings bond holdings and redemptions.

  2. Status: Closed - Not Implemented

    Comments: Congress has taken no action since the report was issued.

    Matter: The Committees should report to Congress a legislative proposal to amend income and eligibility verification system requirements to expand information available to states under the systems to include data files maintained by the Department of the Treasury on U.S. savings bond holdings and redemptions.

 

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