Section 470 IAC 11.1-1-6 - Real and personal property ownership; limitationsAuthority: IC 12-13-2-3; IC 12-13-5-3
Affected: IC 12-16
Sec. 6.
(a) Definitions. (1) Current market value is the average price that the property will sell for on the open market to a private individual in the particular geographic area involved.(2) Equity value is the current value minus the total amount of liens against the property.(b) A patient is ineligible for hospital care for the indigent if the total equity value of available nonexempt real and personal property owned by the household members exceeds the applicable limitation as set forth below, during any part of the month of hospitalization. (1) $1500 for an unmarried patient, or for a patient who does not live with his spouse, including the amount determined in subsection (c) of this section, if applicable; or(2) $2250 for a married patient and his spouse.(c) If the patient is under age eighteen (18) his real and personal property includes the value of his parent's real and personal property in excess of the following exclusions:(1) If the patient lives with one parent $1500 of the parent's real and personal property is excluded.(2) If the child lives with two parents, $2250 of the parent's real and personal property is excluded.(d) The following real and personal property is exempt from consideration: (1) the home which is the principal residence of the patient; (2) all household goods and personal effects;(3) personal property used to produce food for home consumption or used in the production of income;(4) the value of life insurance with a total face value of $1,400 or less if provision has been made for payment of the patient's funeral expenses from the proceeds of such insurance. However, the $1,400 limitation shall be reduced by any amount in an irrevocable burial trust or irrevocable prepaid funeral agreement;(5) the value of one motor vehicle per household according to the following provisions: (A) One motor vehicle is excluded if: (i) it is necessary for employment;(ii) it is necessary for the medical treatment of a specific or regular medical problem; or(iii) it is modified for operation by or transportation of a handicapped person.(B) If no motor vehicle is excluded under (A) above, $4500 of the current market value of one (1) motor vehicle is excluded.(6) real and personal property owned solely by children under age eighteen (18), other than the patient;(7) real and personal property owned solely by the step-parent of the patient under age eighteen (18);Division of Family Resources; 470 IAC 11.1-1-6; filed Jun 3, 1986, 3:00 pm: 9 IR 2715; readopted filed Jul 12, 2001, 1:40 p.m.: 24 IR 4235; readopted filed Oct 24, 2007, 11:25 a.m.: 20071121-IR-470070448RFA; readopted filed Aug 23, 2013, 3:36 p.m.: 20130918-IR-470130306RFA