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a. For six months from the date the exempt asset was mixed with the non-exempt assets, or b. If the exempt asset has been prorated as income, exempt it for the period over which it is prorated. This page last updated in Release Number: 15-01 Release Date: 06/10/2015 Effective Date: 06/10/2015 16.4 Accounts 16.4.1 Joint Accounts Account means a deposit of funds with a financial institution (bank, savings and loan, credit union, insurance company, investment firm, etc). Apply the following policy to accounts where the account holders have equal access to the funds. Note: The following policy does not apply to joint ownership of securities such as stocks and bonds. Shares of stock represent ownership in a business, and their value shifts. Absent evidence to the contrary, assume each owner owns an equal share of the value of the security. For example, two owners would each own 50% of the value. The individual’s stock certificate or statement of account should indicate their ownership percentage. 16.4.1.1 EBD Medicaid Applicant/Member EBD Co-owner When an EBD Medicaid applicant or member shares a joint account with a co-owner who is another EBD applicant/member, deem an “equal share” to each account holder. “Equal share” means an amount in proportion to the number of EBD-related applicant/member account holders. If there are three holders, an equal share means each is deemed 1/3 of the account balance. EBD Medicaid applicant/members also include any of the Medicare Beneficiary programs QMB, SLMB, SLMB+, and QDWI. SeniorCare applicant/members are not considered an EBD-related applicant/member when deeming joint accounts. 16.4.1.2 EBD Medicaid Applicant/Member Non EBD Co-owner When an EBD Medicaid applicant/member shares an account with an individual or individuals who are not EBD Medicaid applicant(s)/member(s) count the full amount of the account as a countable asset for the EBD Medicaid applicant/member. 16.4.1.3 Exception to Joint Accounts policy Do not apply Joint Accounts policies (see Section 16.4.1 Joint Accounts) to the following kinds of joint accounts: • Accounts established for business, charitable or civic purposes. • Trust or restricted accounts. A trust or restricted account is one in which the person named as holder of the account has no access or limited access to the funds in it. • Special purpose accounts. A special purpose account has at least one holder acting as the power-of-attorney, guardian, or conservator for at least one of the other holders of the account.