Statutes, codes, and regulations
New Mexico Administrative Code
Title 8 - SOCIAL SERVICESChapter 215 - MEDICAID ELIGIBILITY - SUPPLEMENT SECURITY INCOME (SSI) METHODOLOGY
Part 500 - INCOME AND RESOURCE STANDARDS
Section 8.215.500.15 - ASSET TRANSFERS

N.M. Admin. Code § 8.215.500.15

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Current through Register Vol. 36, No. 1, January 14, 2025
Section 8.215.500.15 - ASSET TRANSFERS
A.Transfers of assets for less than fair market value by SSI applicants/recipients are considered only if/when an applicant/recipient becomes institutionalized. For medicaid categories using SSI resource determination methodology, transfers by non-institutionalized applicants/recipients are not considered a factor of eligibility.
B.Transfer of resources by an SSI recipient: An institutionalized SSI applicant/recipient who transfers resources without fair return may become ineligible for medicaid coverage of nursing home care for a specified period of time. See Section 8.281.500.14 NMAC and following subsections for information on resource transfer policies and penalties applicable to institutionalized applicants/recipients.

N.M. Admin. Code § 8.215.500.15

2-1-95, 7-31-97; 8.215.500.15 NMAC - Rn, 8 NMAC 4.SSI.515, 3-1-01, Adopted by New Mexico Register, Volume XXIX, Issue 04, February 27, 2018, eff. 3/1/2018