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Code · Kentucky · Chapter 205 — Public assistance and medical assistance

205.6487 Establishment of trust fund -- Maintenance.

260 words·~1 min read·/ky/chapter-205/205-6487

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(1)A "Kentucky Children's Health Insurance Program Trust Fund" shall be
established for the purpose of receiving all appropriated funds, premiums, or
other revenue received by the Kentucky Children's Health Insurance Program
to be used for the payment of costs and services associated with the
administration of the program. Appropriations made to the Kentucky Children's
Health Insurance Program trust fund shall not lapse at the end of a fiscal year
but shall be carried forward in the trust fund account and shall be available for
allotment for its particular purpose in the next fiscal year.
(2)The Kentucky Children's Health Insurance trust fund may receive state
appropriations, gifts, and grants, including federal funds. Any unallotted or
unencumbered balances in the Kentucky Children's Health Insurance Program
trust fund shall be invested as provided for in KRS 42.500(9). Income earned
from the investments shall be credited to the Kentucky Children's Health
Insurance Program trust fund account.
(3)The secretary of the Cabinet for Health and Family Services shall, by
administrative regulation promulgated in accordance with KRS Chapter 13A,
provide for the administration of the trust fund.
(4)In administering the Kentucky Children's Health Insurance Program, the
administrative costs under the program shall be limited to no more than ten
percent (10%) of applicable program costs.
(5)The trust fund shall administer any savings from the implementation of the
cabinet's Kentucky Children's Health Insurance Program through managed
care and shall use those savings to provide state matching funds for any
enhanced federal funds available under Title XXI of the Federal Social Security
Act.
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