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Effective: December 1, 2006 |
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19.35ar1 - Excess Assets (Archive) |
Archived: October 1, 2008 |
Any client who is not exempt from an asset limit and whose asset total is over the applicable asset limit has excess assets. Excess assets are a bar to eligibility for all health care programs.
How to treat excess assets varies by program and whether or not the client is an applicant or an enrollee.
When a client with excess assets reduces the assets to within the appropriate program’s asset limit, be sure to document details regarding that reduction.
Include:
l The dollar amount of the excess assets.
l How the assets were reduced.
l The dates and amount of expenditures.
l The date the asset reduction was completed.
l Information regarding any improper transfers.
Excluded assets converted from one form to another may continue to be excluded for a certain time period. See Excluded Assets for more information.
See the following sections for specific program provisions: