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
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
(4) (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
Effective:June 29, 2017 History: Amended 2017 Ky. Acts ch. 80, sec. 36, effective June 29, 2017. -- Amended 2005 Ky. Acts ch. 99, sec. 262, effective June 20, 2005. -- Created 1998 Ky. Acts ch. 253, sec. 4, effective April 2, 1998
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