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Family and Children's Medicaid MA-3320 RESOURCES

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IV. WHAT RESOURCES ARE COUNTED

RESOURCE

DO NOT COUNT

COUNT

VERIFICATION

Accident Insurance with Death Benefit

X

   

Bank Accounts

 

X

See A.

Boats, boat trailers, boat motors (not income producing)

 

X

A/B’s Statement unless questionable

Burial contracts (preneed)

X

   

Burial Insurance Policies

X

   

Campers not used as a homesite (not income producing)

 

X

A/B’s Statement unless questionable

See B.

Cash on Hand

 

X

A/B’s statement

Farm or Business Equipment (not income producing)

 

X

A/B’s Statement unless questionable

See B.

Funds received from Walker v. Bayer

X

   

Income-producing personal property, business or farm equipment

X

   

Investments, such as Savings Bonds, mutual funds, and stocks

See C.

 

X

View savings bonds, stock certificates, business records or other records

Life Insurance

X

   

Loans/Promissory Notes

See E.

See E.

See E.

 

Lump Sum See D. See MA-3300 (for income instructions)

Month of receipt

Remainder in subsequent months

View check or award letter

Contact provider

All Federal and State tax refunds, Including Child Tax Credit (CTC) and Earned Income Tax Credit (EITC)

Do not count for 12 calendar months beginning the month the refund is received.

Remainder in subsequent months

View check or award letter

Contact provider

Motor vehicles (Also see Personal Property below)

X

   

Patient Accounts in Long-Term Care Facilities

 

X

Contact facility

Personal effects and household goods

X

   

Personal Property such as mobile home or motor home used as a home site, or recreational vehicle used as primary mode of transportation.

X

   

Personal Property such as mobile home or motor home not used as a homesite or recreational vehicle not used as primary mode of transportation which are not income producing.

 

X

A/B’s Statement unless questionable

See B.

Real Property

X

   

Relocation Assistance Payments (Title XX of Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970)

X

   

Resulting Trusts/Legally Binding Agreements

See G.

See G.

See G.

Retirement Accounts

X

 

See F.

Sale of an Asset

 

Month after receipt of funds

A/B’s Statement

Sponsor Deeming

 

X

See MA- 3313

Stocks and Mutual Funds, including stock owned by an individual in his/her own C-Corporation

X

View stock certificates, business records or other records

Trust Funds

X

   

Utility Trailers (not income producing)

 

X

A/B’s Statement unless questionable See B.

REISSUED 05/01/11–CHANGE NO. 07-11

(IV.A.)

REISSUED 05/01/11–CHANGE NO. 07-11

(IV.B.)

REVISED 06/01/13–CHANGE NO. 05-13

(IV.C.)

REVISED 06/01/13–CHANGE NO. 05-13

(IV.D.)

REISSUED 05/01/11–CHANGE NO. 07-11

(IV.)

REISSUED 05/01/11–CHANGE NO. 07-11

(IV.G.1.)

REVISED 05/01/11–CHANGE NO. 06-11

(IV.G.2.b.)

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