Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 1 - Introduction to Resources
Rule 23-103-1.25 - Unknown Assets
Universal Citation: MS Code of Rules 23-103-1.25
Current through September 24, 2024
A. An individual may be unaware of his ownership of an asset. If this is the case, the asset is not a resource for the period during which the individual is unaware of his ownership.
B. Once the asset is discovered by the individual, the value, including any monies accumulated on it through the month of discovery, must be treated as follows:
1. Month of discovery. The value of the
unknown asset, including any monies (such as interest) that have accumulated on
it through the month of discovery, is evaluated under regular income-counting
rules.
2. Months after month of
discovery. For months after the month of discovery, the previously unknown
asset is a resource and subject to usual resource counting rules.
Social Security Act §1902 (r)(2); 42 CFR §435.601(b) (Rev 1994).
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