Topic: countable resource
What is an ABLE account, how does it affect eligibility, what does a worker need to verify
An annuity gives the right to receive fixed, periodic payments either for life or a term of years. The annuity instrument must be examined to determine the provisions and requirements of the annuity and whether the individual can access the principal. Annuities purchased prior to February 1, 2005 If it is determined that the […]
We currently operate under an SSI criteria state, meaning verification of resources is not required if applicant is an SSI recipient. This is unless resources are new or questionable. Money on hand or in a savings account is considered as a countable resource. Verification of resources held in bank accounts or other financial institutions may […]
To initiate the filing of a lien, the worker must submit a Medicaid Estate Recovery, form 08MA025E, a copy of the deed and/or a document from the County Assessor’s office, a copy of the signed Acknowledgement of Intent to Return Home form 08MA024E (FSS-ML-1), and form 08MA010E (MA-10) by email to OHCA. Please include POA/Guardianship papers […]
THERE IS NO RESOURCE STANDARD TEST The following apply: 60 month look-back period on all assets Penalty for transfer of assets Rules on annuities, promissory notes, life estates and trusts are the same as for ABD related NOT subject to Medicaid lien on home property Subject to Medicaid Estate Recovery if age 55 older when […]
The resource standard for an individual is as shown on Appendix C-1 , Schedule VIII.D If applicant has a spouse, refer to article LTC: Spousal Impoverishment. Exempt Resources: Home Property (under certain circumstances) refer to article LTC: Home Property Overview. One Automobile, if it is used for transportation of the individual or member of the […]
317:35-5-41.8 (a)(3)(F) Equity < the Maximum Home Equity Standard If individual intends to return home property it may be excluded as a countable resource up to 12 months from date of entry into ICF. The home property continues to be an exempt resource if one of the following lawfully resides in the home. Spouse Own […]