The Vendor is required to provide for the implementation and operation of a web-based Asset Verification System (AVS) for the program.
- The AVS will identify assets held at various financial institutions and conduct searches for real property owned by selected Medicaid applicants and recipients and/or their spouses.
- The Asset Verification System shall electronically verify accounts held in financial institutions, and conduct searches on real property, owned by the applicant or recipient and/or the applicant/recipient’s spouse for the month of application and a three-(3) month retroactive period.
- For individuals applying for Medicaid coverage of nursing home care, the verification system will:
• Verify the individual’s and the spouse’s accounts held in financial institutions for the month of application and the 60-month look back period, and the month(s) between the application date and the request date, including accounts that were closed during this period. The information should include the account balance as of the first minute of the first day of the month, average daily balance, and interest earned for each month of the look-back period;
• Identify months in which a potential transfer of assets is detected as determined based on criteria approved by the State; and
• Conduct searches on real property owned by the individual or the individual’s spouse during the month of application and the 60-month look-back period, including any real property that was sold or transferred during this period.
- This solution will utilize secure web-based techniques to identify assets and real property that might otherwise not be discovered or are not disclosed through the Medicaid application or recertification process.
- The Asset Verification System and customer service support will be available to all users for utilization and accommodate any transaction volume 24 hours / 7 days a week. Currently, there are approximately 2,500 system users comprised of the Department and system personnel working any time of the day and any day of the week. The number of system users is expected to increase to 5,000.
- The Asset Verification System shall have the capability to provide for both electronic submission of requests to financial institutions, and electronic receipts of responses from financial institutions.
- The Asset Verification System shall include, at a minimum, information pertaining to checking, savings, and investment accounts, Individual Retirement Accounts (IRAs), treasury notes, certificates of deposit (CDs), annuities and any other assets that may be held or managed by any Financial Institution.
- The Asset Verification System shall request information concerning both open and closed accounts going back for a period up to 60-months from the date of the application through the date of request, to determine if the name of the applicant or recipient, or spouse thereof, appeared on any account as a single or joint owner during the transfer of assets look-back period.
- The Asset Verification System shall allow for verification requests to be sent to financial institutions other than those identified by the applicant or recipient.
- The financial institutions queried shall be based on logic defined by the Contractor such as geographic proximity to the applicant’s/recipient’s home address, or other reasonable factors.
- The Asset Verification System shall allow/provide an option for the Department or its designees to specify the financial institution(s) to be included in the query.
- The Asset Verification System shall analyze the information gathered from the financial institutions to determine if the eligibility threshold was exceeded and/or if a transfer of assets has potentially occurred based on criteria provided by the Department.
- The Asset Verification System shall accommodate and implement system access and rights, including restrictions to functionalities by categories of users, roles and/or permissions based on criteria provided by the Department.
- The Asset Verification System shall accept requests at any frequency which includes batch files, or “ad-hoc” requests from the Department or its designees. These ad-hoc requests may involve the Department’s direct access into the AVS or through a file transfer at any given time.
- The Asset Verification System shall provide documentary evidence that the search was conducted, and the specific financial institutions included in the query even if no assets or real property resources are found.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: January 6, 2026
