701 General Information about Resources

Policy

To qualify for ALTCS, the customer’s counted resources must be less than or equal to the ALTCS resource limit at any time during a calendar month (MA706).  If the customer's resources are within the resource limit at any time during the month, then he or she is resource-eligible for the entire calendar month.  

1)    Whose Resources Count

The resources of responsible relatives may be considered available to the customer in determining eligibility.  The policy in MA702 describes whose resources are counted and when.

2)    Exceptions

Resource requirements do not apply or are limited in the following situations:

3)    Resource Eligibility

Resource eligibility is determined on a month-by-month basis.  Generally, the equity value of a resource is used, unless an exception is noted for a specific type of resource.  Equity value is the fair market value minus any liens, mortgages or other debts.

Generally, the proceeds from the sale of a resource are not income, but rather the conversion of one type of resource to another.  The converted resource must be reviewed to determine its effect on eligibility. 

Resources that are sold or transferred to someone else without receiving fair value in return, may result in the customer being unable to get long-term care services for a period of time.  See Chapter 900 for detailed policy about transfers and how they affect ALTCS eligibility.

Definitions

Proof

In general, proof includes any documents showing:

·        The type of resource;

·        The value; and

·        Who owns the resource.

Proof must come from the institution or third party knowledgeable about the resources in question.  Knowledgeable entities are those that are responsible for administering, overseeing or dispensing the resource.

Each type of resource requires specific types of proof.  See MA705 for proof needed for each type of resource.

Legal Authority