Medical Assistance for People Who Are Age 65 or Older or People Who Are Blind or Have a Disability

2.3.3.2.7.1 Liquid Assets

Liquid assets include cash or any other types of assets that can be converted to cash within 20 workdays. Workdays are any days other than Saturdays, Sundays, and federal holidays. This section discusses the types of liquid assets and clarifies whether they count towards the person’s asset limit.

Evaluation of Liquid Assets

The total cash value of a liquid asset is counted towards the person’s asset limit unless the proof provided indicates that the asset is any of the following:

  • An Excluded Asset

  • An Unavailable Asset

  • A Jointly Owned Asset, for which the full value is not counted to each owner. See MA-ABD Shared Ownership.

Income received in a given month is not an asset in that month. If retained beyond the month of receipt, income becomes a liquid asset.

Assumption of Liquidity

Absent evidence to the contrary, assume the following types of resources are liquid:

  • Bonds

  • Certificates of Deposit (CDs)

  • Checking accounts

  • Foreign Currency

  • Guardianship accounts. The total value of the guardianship account the person owns or the person or someone acting on behalf of the person has a legal right to use for the person’s support and maintenance is counted.

  • Money market account

  • Mortgages (Applicant or enrollee is the lender)

  • Mutual fund shares

  • Promissory notes (Applicant or enrollee is the lender)

  • Savings accounts

  • Social Welfare fund

  • Stocks. An applicant or enrollee may use stock listings to define the value of stocks.

  • Time deposits

  • Treasury Bills

  • U. S. Savings Bonds. An applicant or enrollee may use the Comprehensive Savings Bond Value table on the U.S. Bureau of Public Debt website or consult a bank to define the value of a savings bond.

  • Virtual currency

Assumption of Non-Liquidity

Absent evidence to the contrary, the following types of assets are assumed not to be liquid:

  • Automobiles, trucks, tractors and other vehicles

  • Buildings, land and other real property rights

  • Household goods and personal effects

  • Machinery and livestock

  • Non-cash business property

Legal Citations

Minnesota Statutes, section 256B.056, subdivision 1a