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FIP Eligibility - Financial - Iowa

In addition to meeting nonfinancial eligibility factors, the family must also meet financial eligibility factors. The family’s countable income and resources must be within FIP program limits.

See:

· FIP Resource Limits: To qualify for FIP Assistance, the countable resources of families who are applying for FIP must not exceed $2,000. Countable resources of families who are already receiving FIP must not exceed $5,000 to remain eligible. For more information see: FIP Resources Limits.

· FIP Gross Income Limits (Test 1): The family’s gross non-exempt income must be equal to or below 185% of the Standard of Need (also called 185% of Schedule of Living Costs) for the family size.

For more information see: FIP Gross Income Limits.

· FIP Net Income Limits (Tests 2 and 3):

Test 2: Only families applying for FIP must meet this test. If the family's gross income meets Test 1, the family's Net Income must be below the Standard of Need (also referred to as the Schedule of Living Costs). Net Income for this test is non-exempt gross income minus a 20% earned income deduction and diversions for certain ineligible dependents.

Test 3: If Net Income is below the Standard of Need, then the 50% Work Incentive Deduction is applied to earned income. The family's net income must be below the Payment Standard (also referred to as the Schedule of Basic Needs).

Families applying for or receiving FIP must meet Tests 1 and 3. But only families applying for FIP must meet Test 2.

Test 3 is used to determine the amount of FIP benefits the family will receive.

For more information, see FIP Net Income Standards and Payment Rates.

Source: Iowa DHS Employees’ Policy Manual

Title 4, Family Investment Program (FIP)

· Chapter D, Resources

· Chapter E, Income

· Chapter F, Budgeting for Initial Eligibility, Applying Income Tests

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