Texas Administrative Code
Title 1 - ADMINISTRATION
Part 15 - TEXAS HEALTH AND HUMAN SERVICES COMMISSION
Chapter 360 - MEDICAID BUY-IN PROGRAM
Section 360.113 - Resources
Universal Citation: 1 TX Admin Code ยง 360.113
Current through Reg. 49, No. 38; September 20, 2024
(a) To establish and maintain eligibility for MBI, a person's countable resources must be equal to or less than $3,000 plus the amount of the Supplemental Security Income (SSI) resource limit for an individual that is explained in RSA 416.1205. Countable resources means resources for SSI purposes as defined in RSA 416.1205, minus all applicable exemptions and exclusions explained in RSA 416.1207 - 416.1239.
(b) In addition to the exemptions and exclusions explained in subsection (a) of this section, the following are not countable resources under this section:
(1)
Independence accounts.
(A) An independence
account (IA) is a segregated account in a financial institution, the purpose of
which is to save for future health care and work-related expenses to increase
an individual's independence and employment potential.
(B) Only a person's own earned income may be
deposited into an IA, and amounts deposited cannot exceed 50% of the person's
gross earnings. If for any SSA Qualifying Quarter a person deposits more than
50% of the person's gross earnings into an account that is designated as an IA,
the account loses its IA designation and the funds in the account become a
countable resource for the 12-month period beginning with the first month after
the SSA Qualifying Quarter. An SSA Qualifying Quarter is a three-month period
that ends on March 31, June 30, September 30, and December 31 of each calendar
year and during which a person's reported earnings and FICA contributions are
enough for SSA to give the person Social Security wage credits.
(C) Only health care or work-related expenses
may be paid from an IA. For any SSA Qualifying Quarter, if funds in an IA
account are used for any other purpose, the account loses its IA designation
and the funds in the account become a countable resource for the 12-month
period beginning with the first month after the SSA Qualifying
Quarter.
(2) Retirement
related tax-sheltered accounts. Retirement related tax-sheltered accounts
include IRAs, 401(k)s, TSAs, and KEOUGHs that comply with IRS
regulations.
(3) Tuition savings
programs. The Texas Health and Human Services Commission excludes funds used to
establish a tuition savings program under §
RSA
358.356 of this title (relating to Tuition
Savings Programs).
(4) Achieving a
Better Life Experience (ABLE) Program. HHSC excludes from the calculation of
countable resources funds used to establish an ABLE account and funds held in
an ABLE account under § 358.357 of this title (relating to Achieving a
Better Life Experience Program).
(5) School-Based Savings Program. HHSC
excludes from the calculation of countable resources funds held in a
school-based savings program under §
RSA
358.358 of this title (relating to
School-Based Savings Program).
Disclaimer: These regulations may not be the most recent version. Texas 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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