Section 1189.73. Accountability requirements related to resident personal fund management

(a) A county nursing facility may not require residents to deposit their personal funds with the county nursing facility. A county nursing facility shall hold, safeguard and account for a resident’s personal funds upon written authorization from the resident in accordance with this section and other applicable provisions in State and Federal law.

(b) A resident’s personal funds may not be commingled with county nursing facility funds or with the funds of a person other than another resident.

(c) A resident’s personal funds in excess of $50 shall be maintained in an interest bearing account, and interest earned shall be credited to that account.

(d) A resident’s personal funds that do not exceed $50 may be maintained in a noninterest bearing account, interest bearing account or petty cash fund.

(e) Statements regarding a resident’s financial record shall be available upon request to the resident or to the resident’s legal representative.

(f) The county nursing facility shall notify each resident that receives MA benefits when the amount in the resident’s personal fund account reaches $200 less than the SSI resource limit for one person.

(g) Within 60 days of the death of a resident, the county nursing facility shall convey the resident’s funds and a final accounting of those funds to the individual or probate jurisdiction administering the resident’s estate.

(h) The county nursing facility may not impose a charge against the personal funds of a resident for an item or service for which payment is made under MA or Medicare.

(i) The county nursing facility shall maintain records relating to its management of residents’ personal funds for a minimum of 4 years. These records shall be available to Federal and State representatives upon request.

(j) The county nursing facility shall purchase a surety bond or otherwise provide assurances of the security of personal funds of the residents deposited with the county nursing facility.