(a) Management of financial affairs. The resident has
the right to manage the resident's financial affairs and the facility
may not require a resident to deposit their personal funds with the
facility. A resident may designate another person to manage the resident's
financial affairs.
(b) Management of personal funds.
(1) Licensed-only facilities. Upon written authorization
of a resident, the facility may hold, safeguard, manage, and account
for the personal funds of the resident deposited with the facility.
The facility will act as a fiduciary agent if the facility holds,
safeguards, and accounts for the resident's personal funds.
(2) Medicaid-certified facilities. Upon written authorization
of a resident, the facility must hold, safeguard, manage, and account
for the personal funds of the resident deposited with the facility,
as described in §19.405 of this subchapter (relating to Additional
Requirements for Trust Funds in Medicaid-certified Facilities). The
facility will act as a fiduciary agent if the facility holds, safeguards,
and accounts for the resident's personal funds.
(c) Statement of resident rights and responsibilities.
The facility must provide each resident and resident representative
with a written statement at the time of admission that meets the following
requirements:
(1) the statement describes the resident's rights to
select how personal funds will be handled. The following alternatives
must be included:
(A) the resident has the right to manage the resident's
financial affairs;
(B) the facility may not require a resident to deposit
the resident's personal funds with the facility;
(C) the facility has an obligation, upon written authorization
of a resident, to hold, safeguard, manage, and account for the personal
funds of the resident deposited with the facility;
(D) the resident has a right to apply to the Social
Security Administration to have a representative payee designated
for federal or state benefits to which the resident may be entitled;
and
(E) except when subparagraph (D) of this paragraph
applies, the resident has a right to designate in writing another
person to manage the resident's personal funds;
(2) the statement notes, when applicable, that any
charge for the facility handling a Medicaid recipient's personal funds
is included in the facility's basic rate; and
(3) the statement advises the resident that the facility
must have written permission from the resident, or resident representative
to handle the resident's personal funds.
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Source Note: The provisions of this §554.404 adopted to be effective May 1, 1995, 20 TexReg 2393; amended to be effective March 24, 2020, 45 TexReg 2025; transferred effective January 15, 2021, as published in the Texas Register December 11, 2020, 45 TexReg 8871 |