Noncountable assets are those assets exempt from consideration
when determining the value of assets. In addition to the noncountable assets
described in
130
CMR 520.006 and
520.007, the following assets
are noncountable.
(A)
The
Home. The home of the applicant or member and the spouse and any
land appertaining to the home, as determined by the MassHealth agency, if
located in Massachusetts and used as the principal place of residence, are
considered noncountable assets, except when the equity interest in the home
exceeds the amount described in
130
CMR
520.007(G)(3). The home
is subject to the lien rules at
130
CMR
515.012:
Real Estate
Liens. If the home is placed in a trust or in an arrangement similar
to a trust, the MassHealth agency will apply the trust rules at
130
CMR
520.021 through
520.024.
(B)
Assets of an SSI
Recipient. The assets of an SSI recipient are exempt from
consideration as countable assets.
(C)
Proceeds from the Sale of a
Home. The proceeds from the sale of a home used by the applicant
or member as the principal place of residence, provided the proceeds are used
to purchase another home to be used as the principal place of residence, are
considered noncountable assets. Such proceeds are exempt from consideration as
countable assets for the three calendar months following the month of receipt.
The MassHealth agency places a lien before the death of the member against any
real estate in which the member has a legal interest in accordance with
130
CMR
515.012:
Real Estate
Liens.
(D)
Business and Nonbusiness Property. Business and
nonbusiness property essential to self-support and property excluded under an
SSA-approved plan for self-support are considered noncountable
assets.
(E)
Any Loan or
Grant. Any loan or grant including, but not limited to,
scholarships, the terms of which preclude their use for current maintenance, is
considered a noncountable asset.
(F)
Funeral or Burial
Arrangements.
(1) The following
funeral or burial arrangements for the applicant, member, or spouse are
considered noncountable assets:
(a) any burial
space, including any burial space for any immediate family member;
(b) one of the following:
1. a separately identifiable amount not to
exceed $1,500 expressly reserved for funeral and burial expenses; or
2. life-insurance policies designated
exclusively for funeral and burial expenses with a total face value not to
exceed $1,500;
(c) the
cash-surrender value of burial insurance; and
(d) prepaid irrevocable burial contracts or
irrevocable trust accounts designated for funeral and burial expense.
(2) Appreciated value or interest
earned or accrued and left to accumulate on any contracts, accounts, or life
insurance is also noncountable. If the applicant, member, or spouse uses any of
these assets, including the interest accrued, for other than funeral or burial
arrangements of the applicant, member, or spouse, the MassHealth agency
considers the asset available and countable under the provisions of
130
CMR
520.007,
520.018, and
520.019.
(3) The applicant, member, or spouse has the
right to establish a burial arrangement or change the designation of his or her
funds to a burial arrangement described in
130
CMR
520.008(F). If such
arrangement is made within 60 days after the date that the applicant or member
was notified of his or her right to do so, then the MassHealth agency considers
the arrangement to have been in existence on the first day of the third month
before the application.
(G)
Veterans'
Payments. Veterans' payments for aid and attendance, unreimbursed
medical expenses, housebound benefits, and enhanced benefits retained after the
month of receipt, provided these payments are separately identifiable, are
considered noncountable assets. Appreciated value and earned interest are also
noncountable.
(H)
Special-needs Trust. Effective until sixty days after
the end of the maintenance of effort and continuous eligibility provisions of
Section 6008 of the Families First Coronavirus Response Act (Public Law No.
116-127), a special-needs trust in accordance with the trust rules at
130
CMR
520.021 through
520.024 is considered a
noncountable asset.
Effective 60 days after the end of the maintenance of effort
and continuous eligibility provisions of Section 6008 of the Families First
Coronavirus Response Act (Public Law No. 116-127), a valid special-needs trust
as determined by the MassHealth agency in accordance with
130
CMR 515.001: Definition of
Terms and the trust rules at
130
CMR 520.021 through
520.024 is considered a
noncountable asset. A special-needs trust that does not meet federal Medicaid
and state MassHealth requirements may be considered a countable asset or
transfers into such trusts may be considered disqualifying transfer of
resources.
(I)
Pooled Trust. Effective until sixty days after the end
of the maintenance of effort and continuous eligibility provisions of Section
6008 of the Families First Coronavirus Response Act (Public Law No. 116-127), a
pooled trust in accordance with the trust rules at
130
CMR
520.021 through
520.024 is considered a
noncountable asset.
Effective 60 days after the end of the maintenance of effort
and continuous eligibility provisions of Section 6008 of the Families First
Coronavirus Response Act (Public Law No. 116-127), a valid pooled trust as
determined by the MassHealth agency in accordance with
130
CMR 515.001: Definition of
Terms and the trust rules at
130
CMR 520.021 through
520.024 is considered a
noncountable asset. A pooled trust that does not meet federal Medicaid and
state MassHealth requirements may be considered a countable asset or transfers
into such trusts may be considered disqualifying transfer of resources.
(J)
ICF/MR
Trust. A trust established before April 7, 1986, solely for the
benefit of a resident of an intermediate-care facility for the mentally
retarded (ICF/MR), is considered a noncountable asset.
(K)
Other Assets.
Any other assets considered noncountable for Title XIX eligibility purposes is
considered a noncountable asset.
