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West Virginia Income Maintenance Manual Chapter 5
West Virginia Income Maintenance Manual Page 13 Chapter 5 Assets
If the applicant's assets, as of the first moment of the month, are within the asset limit, and during the month his assets increase to above the asset limit, he is still eligible for that month. The Worker may use any of the following items to determine first-of-the-month account balances: • Printed or online bank statements and passbooks; • The applicant’s check register or any bank-issued document. This includes, but is not limited to, ATM transaction receipts and/or deposit and/or withdrawal receipts; and/or • The account transaction history on a bank’s automated telephone customer service line that provides complete transaction information, (i.e., deposits, withdrawals, cleared checks, and transfers to/from the account with transaction dates). When the applicant states that a check has not cleared the bank, the Worker may use any of the means listed above to verify that the funds are legally obligated. SSI Medicaid Asset Eligibility Determination Example 2: Mr. Oak’s bank statement shows a checking account balance of $1,350 as of May 1, which combined with other countable assets is $2,250 as of the first of the month. Mr. Oak states the statement balance includes his April rent check of $500 to his landlord, but his landlord has not cashed the check. The Worker finds an entry for check number 1345 for $500 written on April 25. He finds that check 1346 is cleared on the bank statement. The Worker also sees that Mr. Oak has written a $500 check for rent on the 25th of each month for the last six months. Because Mr. Oak wrote the check and legally obligated the funds in his account, and his records provide a complete and consistent picture of the account, the Worker deducts the amount of the uncashed check from the May 1 first-of-the-month balance as an encumbrance. The new checking account balance as of May 1 is $850 and Mr. Oak is asset eligible. 5.3.1.C WV WORKS and AFDC-Related Medicaid The asset determination must be made as of the date of application. For AFDC-Related Medicaid, when medical coverage is backdated, the asset determination must be made from the first day of the month for which eligibility is being determined. All other eligibility requirements must also be met as of that date. When there is an increase in countable assets that exceeds the limit, the AG is closed.