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

2.3.3.2.8 Asset Verification

To qualify for certain Minnesota Health Care Programs (MHCP), applicants and enrollees must have countable assets not greater than the program asset limit. The following MHCP have asset limits:

• Medical Assistance for People who are Age 65 or Older, are Blind, or who Have a disability (MA-ABD)

• Medical Assistance for parents or caretaker relatives with a spenddown

• Medicare Savings Programs (MSP) including Qualified Medicare Beneficiaries (QMB), Service Limited Medicare Beneficiaries (SLMB), Qualified Individuals (QI) and Qualified Working Disabled (QWD)

See EPM 2.1.3.1 MA Asset Limits for additional information regarding asset limits for MA programs.

MHCP applicants and enrollees subject to an asset limit must report their assets, asset values, and account numbers (if applicable) at application, renewal and between renewals if a new asset is reported or the value of an asset has increased or decreased.

An individual’s assets must be verified before the eligibility determination is made.

• At Application: All countable, excluded, or unavailable assets must be verified.

• At Renewal: All countable assets must be verified. Agencies must not re-verify an excluded asset, an unavailable asset, or an asset unlikely to increase in value that was previously verified unless the asset becomes countable or becomes available.

• Between Renewals: Asset verification is required when there is a new asset reported by an enrollee, there is a change reported to an existing countable asset, an unavailable asset becomes available, or when an excluded asset becomes countable.

Electronic Verification of Assets

The agency must attempt to electronically verify attested asset values through an available electronic data source, including the Asset Verification Service (AVS), before requesting paper proofs from an applicant or enrollee.

Paper Proof

Applicants and enrollees must provide paper proof(s) to verify assets if asset values cannot be electronically verified because electronic data sources do not verify that type of asset, or if the electronic sources do not return any results. Paper proofs to verify assets include, but are not limited to:

• Bank, financial institution, and automated teller machine (ATM) statements

• Agency-initiated verification forms

• Copies of bonds

• Stock ownership statements

• Copies of life insurance policies, including statements of cash surrender value, from life insurance companies

• Copies of burial purchase agreements

• An estimate of fair market value from a licensed dealer

• An estimate from a licensed appraiser

• Property tax assessments

• Contracts

• Trust documents

Paper proof(s) submitted by an applicant or enrollee to verify assets must be the most recent paper proof available. The most recent proof available will vary depending on the asset type. County and tribal servicing agencies must assist applicants and enrollees who are unable to provide paper proof(s) with obtaining those proofs.

Self-attestation of asset values may be accepted if electronic data sources are unsuccessful or unavailable and paper proof(s) does not exist or is not available. See EPM 2.3.1.1 MA-ABD Mandatory Verifications.

If paper proof(s) submitted to verify an asset shows an amount or value different from what the applicant or enrollee reported, the dollar value shown on the paper proof(s) is used to determine asset eligibility.

Applicants and enrollees who have countable assets in excess of the asset limit may reduce their assets to be eligible. See EPM 2.3.3.2.6 MA-ABD Excess Assets. If an applicant or enrollee reduces excess assets, they must submit proof of the assets reduced to verify that the person is below the asset limit.

Assets Unlikely to Increase in Value

Assets unlikely to increase in value that were previously verified must not be verified again at renewal. County and tribal servicing agencies must instead rely on the previously verified value of the asset.

Assets unlikely to increase in value are:

• Vehicles, including but not limited to:

  • Cars

  • Trucks

  • Vans

  • Campers

  • Motorcycles

  • Trailers

  • Boats

  • Off-road vehicles

• Tools and equipment that are not used in the home.

Asset Verification for Retroactive Coverage

Income and assets are considered verified for the retroactive months if all of the following are met:

• An applicant or enrollee reports that their income and assets are below the income and asset limits in the application month.

• The applicant or enrollee reports that their income and asset values were the same in the retroactive months requested as in the application month.

• Income for the application month is verified electronically or with paper proof.

• Assets for the application month are verified electronically or with paper proof.

  • AVS will provide results for retroactive months. AVS results for retroactive months should not be used unless the results indicate the applicant or enrollee is above the asset limit. In such cases, the inconsistent information must be resolved before determining eligibility.

If the applicant or enrollee attests that either their income or asset values were not the same in the retroactive months, verification of actual income and assets for each retroactive month requested is required.

Income verification for retroactive coverage policies do not apply to people who request MA for Long-Term Care Services (MA-LTC) and who use a long-term care (LTC) income calculation to determine their LTC spenddown or waiver obligation. See 2.3.3.3.2.4 MA-ABD Income Verification and 2.4.2.5 Income Calculations for Long-Term Care Services for more information.

Legal Citations

Code of Federal Regulations, title 42, section 435.945

Code of Federal Regulations, title 42, section 435.948

Code of Federal Regulations, title 42, section 435.952

Minnesota Rules, part 9505.0095

Published: November 26, 2025