Alabama Administrative Code › Title 560 - ALABAMA MEDICAID AGENCY › Chapter 560-X-25 - MEDICAID ELIGIBILITY › Section 560-X-25-.08 - Development Of Ownership Interest In Liquid Resources For SSI-Related Individuals

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Cash
			 -- Cash on hand is always counted as liquid resource except when it is a
			 business asset necessary to the operation of a trade or business that is
			 excluded as necessary for self-support or under an approved plan for achieving
			 self-support in the case of the blind or disabled.
(2) Checking, Savings, and Other Accounts.
(a) General. These are countable resources if
			 the applicant/recipient has unrestricted legal access to the accounts. This
			 rule applies to individual accounts and joint accounts as well as certificates
			 of deposit, savings certificates, and all forms of time deposits, whether held
			 individually or jointly. This rule applies to accounts, deposits, etc., in any
			 financial institution or being held by any financial or brokerage service or
			 agency.
(b) Joint Accounts.
1. When only one holder of a joint account is
			 an applicant/recipient who has unrestricted access to the funds in the account
			 it is presumed that the applicant/recipient owns the total funds in the
			 account.
2. When two or more
			 eligible individuals or applicants are holders of the same joint account and
			 each has unrestricted access to the funds in the account it is presumed that
			 the eligible individual or applicant owns an equal share of the total funds in
			 the account, regardless of the source of the funds.
3. Unrestricted access depends upon the legal
			 structure of the account. When the account reads "or" or "and/or" and the
			 applicant/recipient is legally able to withdraw funds from the account, he/she
			 is considered to have unrestricted access to the total funds in the
			 account.
(c) Rebuttal of
			 Presumption. The opportunity to rebut the presumption of ownership shall be
			 afforded all applicants/recipients. In order for an applicant/recipient to
			 rebut successfully the presumption of full or partial ownership, all of the
			 following documentation is required:
1. A
			 statement by the applicant/recipient on a form 234, giving:
(i) His/her allegation regarding no ownership
			 or partial ownership of the funds documented by a statement from the financial
			 institution, copy of the bank book, account book, certificate of deposit, etc.,
			 verifying the language of the account, and a copy of the signature
			 card;
(ii) The reason for
			 establishing the joint account;
(iii) Who made deposits to and withdrawals
			 from the account, and how withdrawals were spent, documented with evidence such
			 as wage statements, deposit slips, and employer's statements verifying source
			 of deposits and cancelled checks; and
(iv) Corroborating statements on form 234
			 from the other account holder(s), or, if the co-holder of the joint account is
			 incompetent or a minor, a statement from a third party who has knowledge of the
			 circumstances surrounding the establishment of the joint account.
2. If the rebuttal is successful
			 and it is determined that the funds in the account do not belong to the
			 applicant/recipient and should be excluded as a countable resource, a change in
			 the account designation removing the applicant/recipient's name from the
			 account or restricting access to the account must be executed and verification
			 of such submitted as evidence before eligibility can be determined. If this
			 change is not made and evidence is not submitted by the applicant/recipient
			 within ten (10) days following notification, the presumption of ownership will
			 apply.