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

144 2) the Bureau of Land Management; 3) the U.S. Geological Survey. 8.100.5.N. Treatment of Self-Funded Retirement Accounts 1. The following regulations apply to self-funded retirement accounts such as an Individual Retirement Account (IRA), Keogh Plan, 401(k), 403(b) and any other self-funded retirement account. 2. Self-funded retirement accounts in the name of the applicant are countable as a resource to the applicant. 3. Self-funded retirement accounts in the name of the applicant's spouse who is living with the applicant are exempt in determining eligibility for the applicant, except as set forth in 4. below. 4. Self-funded retirement accounts in the name of a community spouse who is married to an applicant who is applying for Long Term Care in a Long Term Care institution, HCBS or PACE, are countable as a resource to the applicant and may be included in the Community Spouse Resource Allowance (CSRA) up to the maximum amount allowable. The terms community spouse and CSRA are further defined in the regulations on Spousal Protection in this volume. 5. The value of a self-funded retirement account is determined as follows: a. The gross value of the account, less any taxes due, is the amount that is countable as a resource, regardless of whether any monthly income is being received from the account. b. If the applicant is not able to provide the amount of taxes that are due, the value shall be determined by deducting 20% from the gross value of the account. 8.100.5.O. Treatment of Inheritances 1. An inheritance is cash, other liquid resources, non-cash items, or any right in real or personal property received at the death of another.

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Page 144

Official source

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

144 2) the Bureau of Land Management; 3) the U.S. Geological Survey. 8.100.5.N. Treatment of Self-Funded Retirement Accounts 1. The following regulations apply to self-funded retirement accounts such as an Individual Retirement Account (IRA), Keogh Plan, 401(k), 403(b) and any other self-funded retirement account. 2. Self-funded retirement accounts in the name of the applicant are countable as a resource to the applicant. 3. Self-funded retirement accounts in the name of the applicant's spouse who is living with the applicant are exempt in determining eligibility for the applicant, except as set forth in 4. below. 4. Self-funded retirement accounts in the name of a community spouse who is married to an applicant who is applying for Long Term Care in a Long Term Care institution, HCBS or PACE, are countable as a resource to the applicant and may be included in the Community Spouse Resource Allowance (CSRA) up to the maximum amount allowable. The terms community spouse and CSRA are further defined in the regulations on Spousal Protection in this volume. 5. The value of a self-funded retirement account is determined as follows: a. The gross value of the account, less any taxes due, is the amount that is countable as a resource, regardless of whether any monthly income is being received from the account. b. If the applicant is not able to provide the amount of taxes that are due, the value shall be determined by deducting 20% from the gross value of the account. 8.100.5.O. Treatment of Inheritances 1. An inheritance is cash, other liquid resources, non-cash items, or any right in real or personal property received at the death of another.