Nursing homes and other healthcare facilities must not require residents to deposit their personal funds with the facility, and must act as a fiduciary of the resident's funds if they are authorized to manage them. Funds must be deposited in an interest-bearing account (or accounts) separate from the facility's operating accounts, and all interest earned must be credited to the resident's account. For Medicaid residents, funds in excess of $50 must be deposited in an interest-bearing account. Facilities must have systems in place to safeguard against any misappropriation of a resident's funds, and must provide a receipt to the gift giver and retain a copy if an individual gives money to the facility for the sake of providing a non-covered service. Residents must have ready and reasonable access to their funds, and requests for less than $100/ $50 for Medicaid residents must be honored within the same day, and requests for $100/ $50 for Medicaid residents or more must be honored within three banking days. Facilities must also maintain petty cash on hand to honor resident requests. Nursing homes and other healthcare facilities must adhere to these new regulations to ensure the safety and security of their residents' funds.

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