Specifications include, but are not limited to: provide an Asset Verification System (AVS), to assist DMMA eligibility staff in the identification of undisclosed assets of LongTerm Care (LTC) Medicaid applicants and recipients. DMMA seeks an Asset Verification System (AVS) that will provide information from both Financial Institutions (FIs) and property records. DMMA requires daily balance information, historical account data for the five (5) years immediately preceding the month of the AVS request (at a minimum), ownership information, and transaction level details from accounts identified and reported through AVS FI searches. DMMA requires ownership information and current fair market value information from properties identified through AVS property record searches. DMMA is also requesting an AVS that can provide the cash surrender and face value of life insurance policies owned by LTC Medicaid applicants, recipients, and the spouses of LTC Medicaid applicants and recipients. Interested vendors must address each portion of DMMA’s requirements in their bid.
