Liquid Assets

Liquid assets include cash or any other types of assets that can be converted to cash within 20 workdays. Workdays are any days other than Saturdays, Sundays, and federal holidays. This section discusses the types of liquid assets and clarifies whether they count towards the person’s asset limit.

Evaluation of Liquid Assets

The total cash value of a liquid asset is counted towards the person’s asset total unless the proof provided indicates that the asset is any of the following:

An Excluded Asset
An Unavailable Asset
A Jointly Owned Asset

Assumption of Liquidity

Absent evidence to the contrary, assume the following types of resources are liquid:

Bonds
Certificates of Deposit (CDs)
Checking accounts
Guardianship accounts
- The total value of the guardianship account the person owns or the person or someone acting on behalf of the person has a legal right to use for the person’s support and maintenance is counted.
Money market account
Mortgages (Applicant or enrollee is the lender)
Mutual fund shares
Promissory notes (Applicant or enrollee is the lender)
Savings accounts
Stocks
Time deposits
Treasury Bills
United States Savings Bonds

Assumption of Non-Liquidity

Absent evidence to the contrary, the following types of assets are assumed not to be liquid:

Automobiles, trucks, tractors and other vehicles
Buildings, land, and other real property rights
Household goods and personal effects
Machinery and livestock
Non-cash business property

Legal Citations

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.