5000 - Resources
Resources include real and personal property (other than income). Real property consists of such assets as land, buildings, homes and life estates. Personal property consists of all property other than real estate including cash assets, vehicles, and household goods.
A household's resources at the time the household applies, and any changes in resources reported prior to the processing of the application, shall be used to determine the household's eligibility.
The value of a nonexempt resource, with the exception of vehicles, shall be the client's equity in the resource. Equity is defined as fair market value less encumbrances.
5100 Reserved
5110 Reserved
5120 Reserved
5130 Medical Assistance - The maximum allowable nonexempt resources of all members of the assistance family group shall not exceed two thousand dollars ($2,000) for one person and three thousand dollars ($3,000) for two or more persons who are in the family group (excluding SSI recipients). For the QWD program, an individual may own nonexempt resources up to 2 times these allowable standards. In the QMB, LMB, and Expanded LMB programs, the resource limit shall not exceed $7,390 for a single individual or $11,090 for a couple. In the Working Healthy program, the maximum allowable nonexempt resources shall not exceed fifteen thousand dollars ($15,000) for any size family group.
In addition to the resource amounts listed above for the MS, Working Healthy, QMB and LMB programs, an additional resource disregard shall be allowed in an amount equal to the total benefits paid out under a Qualified Long Term Care Insurance Partnership policy for that individual.
In determining SI eligibility, the $2,000/$3,000 standards are applicable
where a countable trust arrangement exists in accordance with 2631
and 5620.
There is no resource test for children and young adults under the age of
21 seeking coverage under the CI or MS programs, or for young adults under
the age of 26 in the Aged Out Foster Care program.
5140 Reserved