RD266 - Implementation of the Asset Verification Service as Part of Eligibility Modernization - September 2016

Executive Summary:
In its continuing effort to modernize the automated eligibility systems for public assistance programs, in December 2015, the Department of Social Services (DSS) entered into a contract with Accuity Asset Verification Service, Inc. to provide asset verification services for Aged Blind Disabled (ABD) and Long-Term Care (LTC) Medical Assistance applicants and recipients. The asset verification processes are integrated in the DSS Virginia Case Management System (VaCMS) for workers to seamlessly make verification requests and receive responses.

The vendor has the capability to verify assets with all state-chartered financial institutions in Virginia and certain federally-chartered financial institutions, as well as perform searches of institutions in other states. Currently, Accuity has 313 Virginia-based financial institutions with 2,994 branches in the Commonwealth, 1,435 regional financial institutions with 13,811 branches in the region, and 7,838 national financial institutions with 93,821 branches.

To date, eligibility workers have made 3,477 verification and/or detection requests of assets for ABD and LTC Medical Assistance applicants utilizing the asset verification service. From these requests, 246 financial institutions returned 36,729 unique responses. DSS anticipates a continued upward trend in the utilization of asset verification services.