Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 1 - Introduction to Resources
Rule 23-103-1.10 - Liberalized Resource Policy Overview
Universal Citation: MS Code of Rules 23-103-1.10
Current through September 24, 2024
A. 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.
42 U.S.C. § 1396a; 42 C.F.R. § 435.601.
Disclaimer: These regulations may not be the most recent version. Mississippi may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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