This article is a section taken from MA for Long-Term Care Services (MA-LTC) a part of the revisions and additions to the Minnesota Health Care Program Eligibility Policy Manual.
Asset Assessment for Planning Purposes
An asset assessment is an evaluation of assets owned individually or jointly by a married couple as of a specific date. The couple must document and provide proof of these assets.
A couple may request an asset assessment even if they are not applying for Medical Assistance for Long-Term Care Services (MA-LTC) when one spouse has or anticipates needing LTC services for 30 or more continuous days. County and tribal agencies are required to complete the assessment telling the couple which assets would count and which assets would not count if the couple had applied for MA-LTC. This will help the couple estimate how much of their assets must be spent before the LTC spouse may be eligible for MA-LTC. The Asset Assessment for Medical Assistance (MA) Payment of Long-Term Care (LTC) Services (DHS-3340) form is used to document the couple’s assets when the couple is not applying for MA-LTC.
The LTC spouse, the LTC spouse’s authorized representative, if applicable, and the community spouse must be notified of the results of the asset assessment.
Minnesota Statutes, section 256B.059
United States Code, title 42, section 1396r-5
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.