Rule 23-103-1.10 - Liberalized Resource Policy OverviewA. The following briefly describes the liberalized resource policies currently in effect. The liberalizations are described in greater detail in the discussion of each resource type: 1. Spend down of resources within a month to become eligible in that month, i.e., eligibility may be established effective the first day of the month if countable resources fall below the applicable limit within the month. 2. Excess resources earmarked for payment of private pay in a nursing facility in month(s) prior to Medicaid eligibility are not considered countable resources. 3. Income that accumulates pending Medicaid approval that results in excess resources can be excluded if this income is obligated for Medicaid income purposes. 4. Certain property and types of ownership are totally excluded, regardless of value: a) Home property located in Mississippi, life estate and remainder interests in any property, 16th Section land leaseholds, mineral rights or timber rights that are not under production and housing on government-owned land are excluded under liberalized policy, b) Income producing property is excluded if it produces at least six percent (6¢) of the equity value of the property, c) Promissory notes, loans and property agreements are excluded if the note produces a net annual return of six percent (6%) of the principal balance, d) Up to two (2) automobiles may be excluded, e) Household goods are totally excluded and personal property up to five thousand dollars ($5,000.00) in equity value is excluded, f) The cash value of whole life insurance is excluded if the combined face value of all life insurance policies on any one individual is ten thousand dollars ($10,000.00) or less, g) Burial spaces for family members are excluded as resources, and h) Burial funds set aside in a revocable arrangement are subject to a six thousand dollar ( $6,000.00) limit effective April 1, 2001. 5. The current market value of real property is established using the county tax assessed true value as shown or calculated using the appropriate county property tax assessment notice.23 Miss. Code. R. 103-1.10
42 U.S.C. § 1396a; 42 C.F.R. § 435.601.Revised to correspond to SPA 16-0009 (eff. 01/01/2016)