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Effective: September 1, 2008 |
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19.25ar4 - Asset Types (Archive) |
Archived: September 1, 2011 |
All Minnesota Health Care Programs have specific rules about how the value of assets owned by an applicant or enrollee affect a person’s eligibility for coverage. Information about how to evaluate different types of assets is discussed in this section.
Obtain information about what assets an applicant or enrollee owns as follows:
1. Applications and renewals collect information needed to determine the value of an asset, which may include who owns the asset, what type of asset is owned, the value of the asset and the amount of encumbrances (money owed) against the asset. In addition, an applicant or enrollee may report information about assets to the agency by telephone or through other types of correspondence.
See Verification of Assets for more information on what assets must be verified.
2. When asset information is incomplete, contact the applicant or enrollee by telephone and document their response. If you are unable to contact the person by telephone, send a written request for the specific information or verifications needed, which may include a copy of an incomplete section of the application or other form.
See the sections detailing specific assets. Specific types of assets include:
l Non-Homestead Real Property.
l Life Estates.
l Promissory Notes, Contracts for Deed and Property Agreements.
l Vehicles.
l Annuities.
l Trusts.