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ordinarily non-liquid include loan agreements, household goods, automobiles, trucks, tractors, boats, machinery, livestock, buildings and land. Non-liquid resources are evaluated according to their equity value except when otherwise indicated. The equity value of an item is the price that it can reasonably be expected to sell for on the open market in the particular geographic area involved, minus any encumbrances. B. § 3.6 of this Part explains the types of resources and applicable exclusions in general when using the SSI method to determine financial eligibility. Part 05-1 of this Chapter focuses on Community Medicaid. Medicaid LTSS-specific provisions are located in Part 50-00-6 of this Title. 3.2.8 Income and Resource Standards A. The following standards are used in the determination of the countable income and resources of an individual or couple when using the SSI method for determining Medicaid financial eligibility: 1. Monthly Federal Benefit Rate (FBR) – The FBR is set by the Federal government and is based on the SSI monthly cash payment for an individual or couple. The FBR is reduced by one-third if the individual or couple lives in the household of another. Accordingly, the FBR serves as the SSI income eligibility standard and in the Medicaid eligibility determination process for calculating allowances and deeming purposes. The FBR is adjusted annually on January 1, as necessary, to reflect changes in the cost of living and published by the Social Security Administration. The FBR is also the basis for the income eligibility cap for LTSS in certain circumstances. 2. Optional State Supplemental Payment (SSP) Limits – The limits for SSP eligibility are tied to SSI and EAD eligibility. SSP amounts are established by statute at R.I. Gen. Laws § 40-6-27. No SSP benefit is available if the beneficiary has income in excess of the amounts established in 218- RICR-20-00-5. 3. Medically Needy (MN) Monthly Income Standards – There are different MN income standards for determining eligibility for Community Medicaid and LTSS. a. Community Medicaid. For persons seeking non-LTSS Medicaid MN coverage, previously known as the flexible test of income, eligibility is reserved for applicants with income above the eligibility standard and high health care expenses who are able to spenddown to the applicable income limit during a specified MN eligibility period of six (6) months. MN beneficiaries are eligible for Medicaid health coverage once they have spent down to this limit, as indicated below.