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FIP Eligibility - Resources - Iowa

To qualify for FIP assistance, countable resources must be at or below the following limits:

·           $2,000 for FIP applicant families

·           $5,000 for FIP recipient families

Note: The $5,000 recipient limit applies to applicant families that contain a member who received FIP assistance in the month before the month of application.

Resource Exclusions

Resources that are not counted when determining FIP eligibility include the following:

·                The family’s homestead;

·                Non-homestead property that is up for sale at fair market value or that produces income consistent with fair market value;

·                Property sold under contract;

·                Household goods and personal effects;

·                As of 7/1/00, up to $3,959 equity value per vehicle of each adult and working teenage child in the family (the excluded amount is updated every July for inflation);

·                Life insurance with zero cash value;

·                Funeral trusts or burial contracts not to exceed $1,500 for each member of the FIP eligible group;

·                One burial plot for each member of the FIP eligible group;

·                That part of a nonrecurring lump sum reserved for payment of medical expenses;

·                Income in a month during that same month;

·                Inaccessible resources;

·                Loans;

·                Certain property settlements;

·                Value of assistance from the Women, Infants and Children program;

·                Income in kind;

·                The balance in an Individual Development Account;

·                Payments excluded by federal statute;

·                Inventory and supplies needed for self-employment;

·                Up to $10,000 in equity for tools of the trade or capital assets of self-employed families;

·                Up to $50 of current monthly support paid by a legally responsible person for a child in the FIP eligible group;

·                Financial assistance for education or training;

·                Resources of a Supplemental Security Income (SSI) recipient.

See also:

·      Non-Financial FIP Eligibility Criteria

·      Financial FIP Eligibility Criteria

·      FIP Overview

·      Welcome and Introduction to Benefits in Iowa

Source: Iowa DHS Employees’ Policy Manual

Title 4, Family Investment Program (FIP)

·     Chapter D, Resource Limits; Countable Resources; and Exempt Resources

Legal reference: 441 IAC 41.26(239B)

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