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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 41 Chapter 5 Assets

When a lump-sum payment is received prior to the month of application, the amount remaining during the month of application is an asset. When a lump-sum payment is received by someone being added to an active AG, the amount retained during his month of application is an asset. SNAP: Non-recurring lump-sum payments are counted as assets. For recurring lump-sum payments, see Section 4.4.4. WV WORKS: • When the SSI recipient is under age 18 and SSA requires the establishment of a dedicated account for past-due monthly SSI payments, any lump-sum SSI back payment amount deposited in the dedicated account is excluded as an asset. • If the funds are commingled with any other funds, except accumulated earnings or interest from the account, the exclusion does not apply to any portion of the account. SSI Medicaid Groups: ➢ SSI Dedicated Accounts When an SSI recipient is under age 18 and SSA requires the establishment of a dedicated account for past-due monthly SSI payments, any lump-sum SSI back payment amount deposited in the dedicated account is excluded as an asset. If the funds are commingled with any other funds, except accumulated earnings or interest from the account, the exclusion does not apply to any portion of the account. ➢ Retirement, Survivors and Disability Insurance (RSDI) and SSI Underpayments The payments are excluded for nine months following the month of receipt. ➢ RSDI and SSI Restitution Payments for Misuse by a Representative Payee The payments are excluded for nine months following the month of receipt. ➢ Medicare Premium Refunds for Individuals Eligible for DoHS Buy-In The payments are excluded for nine months following the month of receipt. Effective for refunds issued after June 1, 2025.