This article is a section taken from MA for People Who Are Age 65 or Older or People Who Are Blind or Have a Disability (MA-ABD), a part of the revisions and additions to the Minnesota Health Care Program Eligibility Policy Manual.
Availability of Countable Assets
Assets are available if the owner has both the legal authority and actual ability to use them or to convert them to cash. An available asset must be counted in calculating the person’s countable assets, unless the asset is an excluded asset. Assets that are legally unavailable are not counted.
The value of the portion of an asset the person owns, in whole or in part, is presumed to be available unless the person proves it is not. A person may prove all or part of an asset is unavailable by verifying a legal or actual barrier to obtaining or disposing of the asset that cannot be reasonably overcome. The person is not required to undertake litigation in order to accomplish the sale of, or gain access to, an asset if there is a documented legal barrier to the sale or use of property.
New verification of excluded or unavailable assets that have already been verified is not required unless the asset becomes available
Other Asset Availability Rules
Non-liquid personal property, such as a non-excluded vehicle, is considered available even if it is for sale.
The terms of a premarital agreement are not considered when determining the available assets of a married couple.
Minnesota Statutes, section 256B.056, subdivision 1a
CREDIT: The content of this post has been copied or adopted from the Minnesota Healthcare Programs Eligibility Policy Manual, originally published by the Minnesota Department of Human Services.
This is also part of a series of posts on Minnesota Healthcare Eligibility Policies.