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CODE OF COLORADO REGULATIONS 10 CCR 2505-10 8.100 Medical Services Board

140 b. Funds held by a financial institution in a checking or savings account, certificate of deposit or money market account; c. Current market value of stocks, bonds, and mutual funds; d. All funds in a joint account are presumed to be a resource of the applicant or client. If there is more than one applicant or client account holder, it is presumed that the funds in the account belong to those individuals in equal shares. To rebut this presumption, evidence must be furnished that proves that some or all of the funds in a jointly held account do not belong to him or her. To rebut the sole ownership presumption, the following procedure must be followed: i) Submit statements from all of the account holders regarding who owns the funds, why there is a joint account, who has made deposits and withdrawals, and how withdrawals have been spent. ii) Submit account records showing deposits, withdrawals and interest in the months for which ownership of funds is at issue. iii) Correct the account title and submit revised account records showing that the applicant or client is no longer an account holder or separate the funds to show they are solely owned by the individual within 45 days. e. Any real property that is subject to a recorded beneficiary deed and on which an estate recovery claim can be made. f. For applications filed on or after January 1, 2006, an individual’s home if the individual’s equity interest in the home exceeds the equity value limit described at 8.100.5.M.2.a.i)1). g. Real property not exempt as the principal place of residence and not exempt as income producing property with a value of $6,000 or less, as described at 8.100.5.J.

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Page 140

Official source

CODE OF COLORADO REGULATIONS 10 CCR 2505-10 8.100 Medical Services Board

140 b. Funds held by a financial institution in a checking or savings account, certificate of deposit or money market account; c. Current market value of stocks, bonds, and mutual funds; d. All funds in a joint account are presumed to be a resource of the applicant or client. If there is more than one applicant or client account holder, it is presumed that the funds in the account belong to those individuals in equal shares. To rebut this presumption, evidence must be furnished that proves that some or all of the funds in a jointly held account do not belong to him or her. To rebut the sole ownership presumption, the following procedure must be followed: i) Submit statements from all of the account holders regarding who owns the funds, why there is a joint account, who has made deposits and withdrawals, and how withdrawals have been spent. ii) Submit account records showing deposits, withdrawals and interest in the months for which ownership of funds is at issue. iii) Correct the account title and submit revised account records showing that the applicant or client is no longer an account holder or separate the funds to show they are solely owned by the individual within 45 days. e. Any real property that is subject to a recorded beneficiary deed and on which an estate recovery claim can be made. f. For applications filed on or after January 1, 2006, an individual’s home if the individual’s equity interest in the home exceeds the equity value limit described at 8.100.5.M.2.a.i)1). g. Real property not exempt as the principal place of residence and not exempt as income producing property with a value of $6,000 or less, as described at 8.100.5.J.