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One vehicle is exempt regardless of its value if it’s used for transportation of the applicant/member or a member of their household.42 If the applicant/member transfers a vehicle out of their name and it is not considered an allowable transfer of property, then it should be evaluated for a transfer penalty (see IHCPPM 2640.10.15). If there is more than one vehicle, the one with the highest equity should always be the one that is exempt. The equity value of other vehicles is counted as a resource. If the other vehicle is being used for production of self-employment income, and there is question if it is an available resource, please contact PAL. The equity value is the fair market value minus total liens. 2615.60.25 RECREATIONAL VEHICLES AND EQUIPMENT Recreational vehicles such as campers, trailers, and boats must be counted according to their current equity value. If the recreational or other vehicle serves as the AG's home, it should be evaluated according to the guidelines in IHCPPM 2620.15.10. 2615.65.00 NON-RECURRING LUMP SUM PAYMENTS A lump sum payment may include retroactive benefits such as SSI, Social Security, and VA benefits. A lump sum may also be a refund of Medicare Part B premiums, an insurance settlement, an inheritance, a 13th PERF check or other such non-recurring payment. Retroactive lump sum payments from Social Security (i.e., SSI, RSDI, or SSDI) are exempt as resources for nine (9) months.43 2615.70.00 LIFE CARE CONTRACT (MED 1, 4) An individual may have entered into an agreement with an institution in which the individual transferred their available assets to the institution in exchange for full maintenance and medical care in the institution for life. Such individual would normally be ineligible for assistance, as the institution has a legal responsibility to provide care even if the individual's resources are exhausted. However, in the event the facility claims that the conditions of the contract are no longer applicable because the facility is financially unable to fulfill its legal responsibilities under the contract, the facility must prove this allegation. The DFR must require an accounting from the facility as to: • The amount of income and resources the individual assigned to the facility upon admission • The cost of the individual's care as paid by the facility