Page 17

Louisiana Medicaid Eligibility Manual Eligibility Factors

Reissued June 9, 2026

Page 17 of I-1630 Replacing September 23, 2024

Revised/added text indicated by underscore

Deleted text indicated by “**” It is the applicant/beneficiary's responsibility to provide a written statement from a securities dealer verifying the value.

U. S. Savings Bonds

A U.S. Savings Bond:

• Is an obligation of the federal government,

• Is not transferable,

• Can only be sold back to the government,

Savings bonds are issued as traditional paper bonds or as book- entry securities. Book-entry securities (also called savings security instruments or electronic savings bonds) are sold online by the U.S. Treasury Department.

The individual in whose name a U.S. Savings Bond is registered is the owner. The owner may name a beneficiary of the bond but retains sole ownership rights throughout their lifetime. Upon death of the owner the beneficiary then becomes the new owner.

Paper bonds may have co-owners. Each individual owns equal shares of the redemption value of the bond.

Some electronic bonds called “with” bonds may have the owner listed with one additional person. The additional person listed has authority to cash the bond but has no ownership rights.

Ownership of paper bonds is noted on the front of the bond and can be verified by viewing the bond itself. Ownership of electronic bonds is maintained by the Treasury Department and verification is obtained by the owner downloading a record of the holdings from the Treasury Department.

Physical possession of a paper bond is a requirement for redeeming it. If a person other than the applicant/beneficiary will not relinquish possession of the bond, it is not a resource. This applies to sole and co-ownership bonds. Obtain a statement from this other person verifying that s/he:

• Has physical possession of the bond,