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MEDICAL SERVICES – APPENDIX N, FAMILY MEDICALLY NEEDY RESOURCE AND INCOME LEVELS 02-24-16 Page 2 of 19 B. Resource Limit The equity value of all resources available to the assistance unit, except those specifically disregarded below, must be determined. Equity value is the fair market value of the property less any liens or encumbrances. The total equity value of all countable resources available to the assistance unit, except for that amount specifically disregarded from the equity of certain resources specified below, cannot exceed the resource limit for the category of Medicaid for which the client applied. C. Resources to be Disregarded The following resources are not considered in determining Family Medicaid eligibility: 1. The homestead; 2. Household furniture, appliances, and personal effects; 3. Farm or other equipment used to produce income; 4. The stock and inventory of a self-employment enterprise; 5. Livestock used for subsistence; 6. Loan obtained under Title III – EOA; a. Grants or loans to an undergraduate student for educational purposes made or incurred under any program administered by the Commissioner of Education. b. Educational assistance provided for attendance costs under programs in the Carl D. Perkins Vocational and Applied Technology Education Act. 7. That portion of a grant, scholarship, payment under the Veterans’ Educational Assistance Program (GI Bill), or unearned income paid to or for an individual conditioned upon school attendance which is used for items necessary for school attendance, such as tuition, books, fees, equipment, special clothing needs, transportation, and child care services. 8. Bona fide loans from any source (e.g., bank, any other establishment engaged in the business of making loans, or an individual). Interest received on loans and retained in the months following the month the interest was received is considered a resource. 9. Relocation allowances and adjustment payments made by Federal agencies under any federally financed relocation assistance program.