Oklahoma Administrative Code › Title 317 - Oklahoma Health Care Authority › Chapter 35 - Medical Assistance for Adults and Children-Eligibility › Subchapter 5 - Eligibility and Countable Income › Part 5 - COUNTABLE INCOME AND RESOURCES › Section 317:35-5-41.2 - Miscellaneous Personal property

Current through Vol. 41, No. 20, July 1, 2024
(a)
Cash savings and bank accounts.
Pursuant to Section 416.1208 of
				  Title 20 of the Code of Federal Regulations (C.F.R.), funds held in a financial
				  institution account (including savings, checking, and time deposits, also known
				  as certificates of deposit) are an individual's resource if the individual has
				  an ownership interest in the account and can use the funds for his or her
				  support and maintenance. Verification of the member's countable income or
				  resources held in bank accounts or at other financial institutions can be
				  established through an Asset Verification System (AVS). Section 1671 of Title
				  56 of the Oklahoma Statutes provides that financial records obtained for the
				  purpose of establishing eligibility for assistance or services must be
				  furnished without cost to the member or the Agency. If an individual is
				  designated as sole owner by the account title, and can withdraw funds and use
				  them for his or her support and maintenance, all of the funds, regardless of
				  their source, are that individual's resource. For as long as these conditions
				  are met, it is presumed that the individual owns one-hundred percent (100%) of
				  the funds in the account. This presumption is non-rebuttable.
(1) If there is only one applicant or
				  recipient account holder on a jointly held account, it is presumed that all of
				  the funds in the account belong to that individual. If there is more than one
				  (1) applicant or recipient account holder, it is presumed that all the funds in
				  the account belong to those individuals in equal shares.
(2) If none of the account holders is an
				  applicant or recipient, it is presumed that all of the funds in a jointly-held
				  account belong to the deemor(s), in equal shares if there is more than one (1)
				  deemor. A deemor is a person whose income and resources are required to be
				  considered when determining eligibility and computing the SoonerCare benefit
				  for an eligible individual.
(3) The
				  presumption of ownership, as is established in Oklahoma Administrative Code
				  (OAC) 317:35-5-41.2(a)(1) and (a)(2), above, may be rebutted, as follows, in
				  accordance with
				  20
				  C.F.R. §
												416.1208. Successful rebuttal
				  may be retroactive as well as prospective.
(A) The individual must submit his/her
				  statement, along with corroborating statements from other account holders,
				  regarding who owns the funds in the joint account, why there is a joint
				  account, who has made deposits to and withdrawals from the account, and how
				  withdrawals have been spent;
(B)
				  The individual must submit account records showing deposits, withdrawals, and
				  interest (if any) in the months for which ownership of funds is at issue;
				  and
(C) The individual must correct
				  the account title to show that the individual is no longer a co-owner if the
				  individual owns none of the funds; or, if the individual owns only a portion of
				  the funds, separate the funds owned by the other account holder(s) from his/her
				  own funds and correct the account title on the individual's own funds to show
				  they are solely-owned by the individual.