Mississippi Administrative Code
Title 23 - Division of Medicaid
Part 103 - Resources
Chapter 4 - Countable Resources
Rule 23-103-4.17 - Government Bonds/US Securities
Universal Citation: MS Code of Rules 23-103-4.17
Current through September 24, 2024
A. General.
1. A government bond, distinct from a US
Savings Bond, is a transferable obligation issued or backed by the federal
government.
2. Examples are:
a) Treasury Bills are short-term obligations
that require a minimum investment of $10,000 and can be sold before
maturity.
b) Treasury Notes and
Bonds are similar to T-Bills but they have longer maturities and lower minimum
investment requirements. They have been registered in book form since July
1986, but were sometimes issued as bearer bonds before then.
c) TIGER (Treasury Investors Growth Receipt)
and CATS (Certificate of Accrual on Treasury Securities) are government
securities issued with a zero coupon concept and can be sold before maturity.
y.
d) Some Federal Agencies have
charters to issue securities known as Federal Agency Securities. Minimum
investments range from $1,000 to $25,000. Some of these federal agencies are:
the Federal Home Loan Bank Board, Federal Home Loan Mortgage Corporation
(FREDDIE MAC), the Export-Import Bank and the Government National Mortgage
Association (GINNIE MAE).
B. Treatment.
1. The government securities discussed above
are countable resources.
2.
Ownership is determined from the receipt of purchase.
3. The value is determined from the issuer
and counts as a resource.
Social Security Act §1902 (r) (2); 42 CFR §435.601(b) (Rev 1994).
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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