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Title 8: Medicaid Page 76 Iowa Department of Health and Human Services Employees’ Manual Chapter D: Resources General Non-MAGI-Related Resource Policies Revised September 13, 2024 What Resources to Count Liquid Resources “Liquid resources” are assets that can be converted to cash within 20 days. Following are examples of liquid resources.  Annuities. Count the salable value of an annuity or the amount the company will pay back to the applicant or member if the annuity is cashed in. Ask the client to obtain a statement from the company regarding the lump sum and the cash-in amount. If the annuity cannot be cashed in but is assignable or can be transferred, ask three knowledgeable sources what its value is. Average the three values. Most annuities allow benefits to be assigned or ownership sold. An applicant or a member who claims that an annuity cannot be sold or transferred must obtain verification.  Bonds. The countable value of the bond is its redemptive value on the first moment of the first day of the month.  Cash, unless it was counted as income for the month or specifically excluded as a resource, such as a retroactive SSI lump sum.  Checking and savings accounts. Subtract verified outstanding checks and any funds included in the accounts that are specifically excluded as a resource. If funds intended for the following month are direct deposited or deposited by the applicant or member before the intended month, do not count the funds as a resource in the month they were intended to cover. Remember to count the funds as income.

Mrs. J has $2,000 in checking as of midnight on May 31. She receives her social security check of $700 June 1. This check is not a factor in determining resources, because $2,000 was countable as of the first moment of the first day of the month. For co-owned accounts, if two or more account holders are either Medicaid applicants or members or are people whose income and resources must be considered for Medicaid eligibility (such as spouses or parents of minor children), count an equal share of the account for each.