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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 (Archive)
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 total unless the proof provided indicates that the asset is any of the following:
An Excluded Asset
An Unavailable Asset
A Jointly Owned 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
Stocks
Time deposits
Treasury Bills
United States Savings Bonds
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