205.6487 Establishment of trust fund -- Maintenance. - Kentucky Statutes

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Page 1 of 1 205.6487 Establishment of trust fund -- Maintenance. (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) Notwithstanding the provisions of KRS 205.6336, 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. Effective: June 20, 2005
History: Amended 2005 Ky. Acts ch. 99, sec. 262, effective June 20, 2005. -- Created 1998 Ky. Acts ch. 253, sec. 4, effective April 2, 1998.