003.06 EXCLUDED RESOURCES.

The worth of resources, both available and excluded, is determined on the basis of their equity. Disregarded income is also disregarded as a resource, unless there is a specific regulation stating otherwise. In addition, the following resources are excluded in making a determination of eligibility: (1) Real property the individual owns and occupies as a home; (2) Household goods and personal effects; (3) Cash surrender value of life insurance policies with combined face values of $1,500 or less per individual; (4) A specified maximum in proceeds from an insurance policy irrevocably assigned for the purpose of burial of the client; (5) Irrevocable burial trusts up to the specified amount per individual and the interest if irrevocable; (6) Burial space items or a contract for the purchase of burial space items owned by a client or designated family member; (7) Burial spaces; (8) Up to $1,500 set aside for burial arrangements; (9) One motor vehicle; (10) Certain life estates in real property; (11) Income received annually, semi-annually, or quarterly which is prorated on a monthly basis and included in the budget. This income is excluded as a resource over the period of time it is being considered as income; (12) The unspent portion of any Retirement, Survivors, and Disability Insurance (RSDI) or Supplemental Security Income (SSI) retroactive payments (excluded for six months following the month of receipt); (13) U.S. savings bonds, which are excluded for the initial 12 month mandatory retention period; (14) A resource used in the client's trade or business; (15) A maximum of $6,000 equity value of nonbusiness property, real or personal, used to produce goods or services essential to daily activities for the Aged, Blind, and Disabled categories; (16) The unspent portion of an Aid to the Aged, Blind, and Disabled (AABD) payment or State Disability Program retroactive payment, which is excluded for six months following the month of receipt; (17) Victims compensation payments, which are excluded for nine months beginning with the first month after receipt; (18) Payments received from a state or local government to assist in relocation, which are excluded for nine months beginning with the first month after receipt; (19) An unavailable job-related retirement account held by the employer; (20) An Individual Development Account; (21) Medicare set-aside accounts which may be used only for payment of medical bills of Medicare beneficiaries; (22) Funds held in an Achieving a Better Life Experience (ABLE) account; and (23) An account excluded under the Social Security Program to Achieve Self-Support (PASS).