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MAABD MAABD MAABD MAABD MAABD MAABD MAABD MAABD E-410 Division of Welfare and Supportive Services RESOURCES Medical Assistance Manual TYPES OF RESOURCES (not all inclusive) 24 Sept MTL 04/24 BANK ACCOUNTS RESOURCE TYPE DESCRIPTION

BANK ACCOUNTS Checking, Savings, Time Certificates, Money Markets, Certificates of Deposit (CD)

1. Personal Property

2. Counted

Refer to Individual Development Account (IDA) section for consideration of funds deposited and interest earned on funds in an IDA savings account.

To determine the countable resource amount, consider the low balance of the account on any given day of the calendar month. Any income/interest deposits in a calendar month are not a resource until the month following the month it is posted to the account. Rebutting ownership does not apply for spousal resource determinations.

A. Ownership

The person designated as owner of the account owns all the funds in the account.

Exception: If the owner is acting as an agent for another individual, monies deposited and disbursed on behalf of that individual are not countable.

B. Shared Ownership (joint account)

Account holders are: - married couples - parent and minor child

When deeming applies in determining eligibility for the coverage group (e.g., Public Laws, institutionalized less than 30 days, etc.), rebutting ownership is NOT REQUIRED because deeming resources takes precedence.

When deeming does not apply (e.g., home based waivers, institutionalized at least 30 days, etc.), the account resource balance will be presumed available to the customer unless the customer can successfully prove all or part of the funds are not his/hers. Exception: cases where spousal impoverishment applies, equal division of resources applies or when the customer is acting as an agent for the other account holder(s); rebutting ownership is NOT REQUIRED.

Account holders ARE NOT: - married couples - parent and minor child