Title VII, section 7001(d) of P.L. 110-252 (Supplemental Appropriations Act of 2008) added section 1940 to the Social Security Act requiring all states to implement an electronic asset verification system. We are a national leader in managing the design and implementation of electronic asset verification solutions for state health and human services agencies. PCG customizes our asset verification solution to be either seamlessly integrated into state benefits eligibility systems or as a stand-alone, Web-based solution in order to discover the undisclosed assets of Aged, Blind and Disabled (ABD) populations while ensuring state compliance with Section 1940 of the Social Security Act.
PCG and our partner, Accuity Asset Verification Services (Accuity), offer Medicaid agencies the only proven Asset Verification Service (AVS) in the country, backed by an experienced team of Medicaid eligibility subject matter experts and the nation's most comprehensive network of financial institutions. With our AVS experience on behalf of health and human services agencies in Florida, Maryland, North Carolina, New York, and New Hampshire, as well as for the Social Security Administration, no other vendor can match the lessons learned and best practices we provide. Our AVS solution has been repeatedly tested and has yielded proven results in multiple live Medicaid environments.
Our AVS can be customized as either a Web-service feed into a state's eligibility system or as a secure Web-based solution. The fundamental purpose of the service is to facilitate the expedited exchange of financial account information between a Medicaid agency and the national, regional, and local financial institution community. Two primary mechanisms prompt requests for asset verification:
Regardless of the request and response transmission method chosen, two processes are used concurrently to identify assets and accounts other than those reported by applicants and recipients:
The combination of Accuity's proprietary GUARD application and EWS's National Account Database allows us to quickly and comprehensively canvas thousands of financial institutions in search of assets that may not have been disclosed by the applicant or recipient. These powerful geographic search tools support multiple parallel search requests, canvassing the banking system to detect financial accounts not otherwise disclosed. All requests sent to financial institutions include a request for information on both open and closed accounts, going back for a period up to five years, as determined by the state.
Our account balance responses provided to the state, either via a batch transfer or through the SOAP Web Interface, include applicant and beneficiary account balances from the following types of commonly held financial instruments: annuities, time/CDs, checking accounts, custodial accounts, burial or funeral accounts, IRAs, money market accounts, savings accounts, Keoughs, rent securities, trusts, Christmas clubs, and more.
PCG and our partners also offer additional options to enhance your agency's member eligibility verification process, reduce costs, and maximize savings; each can be seamlessly integrated into the front end of your eligibility determination process.
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For more information on how we can help your state or organization design and implement these programs, please contact us at email@example.com or 1-800-210-6113.