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MAC Resource Limits - Iowa

When determining eligibility for children under age 19 and pregnant women under age 19, disregard the resources of all household members. For pregnant women age 19 or older, resources must not exceed $10,000 per household, regardless of household size.

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Do not consider the resources of a person in the household who is:

·           Receiving FMAP.

·           Receiving CMAP.

·           Receiving SSI.

·           Voluntarily excluded from the eligible group. The excluded person is not eligible to receive Medicaid under any other coverage group.

Follow FMAP-related resource policies in Iowa Dept of Human Services Employee Manual Title 8, Chapter D, Resources. Count only liquid resources such as:

·           Cash.

·           Checking and savings accounts.

·           Stocks and bonds.

·           Certificates of deposit.

·           Medicaid qualifying trusts.

·           Exempt resources that meet the IRS definition of a retirement account, such as IRAs, 401Ks, Keogh plans, and IPERS. Annuities are also exempt, but if an applicant or recipient transfers money from a countable resource to an annuity, it may be considered a transfer of an asset. See Iowa Dept of Human Services Employees’ Manual Title 8 Chapter D, Resources, Transfer of Assets.

Examples:

1. Ms. D, age 23, who is pregnant and lives alone, applies for Medicaid. She reports and verifies income that is within MAC limits and the following resources:

$53  Cash

1,200  Checking account

1,000  Savings account

5,000  Certificate of deposit

8,700  IRA

4,000  Car (equity value)

The only resources that are considered in Ms. D’s eligibility determination under MAC are the cash, the checking and savings accounts, and the CD. The IRA and the vehicle are exempt resources. If all other eligibility factors are met, Ms. D is eligible under MAC, since the combined value of all countable resources is less than $10,000.

2. Mr. E and Mrs. E, age 28, who is pregnant, apply for Medicaid. They report and verify income that is within MAC limits and the following resources:

  $ 102  Cash

  2,106  Joint checking account

  600  Joint savings account

 4,700   Value of Mr. E’s mechanics tools

  3,500  1986 Honda motorcycle (equity value)

 14,350  1957 Thunderbird (equity value)

  2,500  1987 Chevrolet (equity value)

  2,000  Joint certificates of deposit

The only resources that are considered in the eligibility determination for Mrs. E are the cash, the checking and savings accounts, and the CD. Mr. E’s tools of the trade and the vehicles are exempt resources. If all other eligibility factors are met, Mrs. E is eligible under MAC, since the combined total of all countable resources is less than $10,000.

3. Ms. L, who is pregnant, Child A (age 9 years), and Child B (age 12 years) apply for Medicaid. The household’s income exceeds FMAP limits for four persons, but is below 133% of the federal poverty level for a family of the same size.

However, MAC eligibility for Ms. L does not exist, because Child B has $15,000 in savings bonds that were left to him by his grandmother. As a result, the household’s resources exceed the $10,000 limit in determining eligibility for Ms. L.

Resources of all household members are disregarded in determining eligibility for Child A and Child B. 

Ms. L chooses to exclude Child B and Child B’s resources from Ms. L’s eligibility determination. Ms. L is then eligible for MAC coverage, but Child B is not entitled to receive Medicaid benefits under any coverage group. Child A is eligible without regard to any household resources.

See Also:

·           MAC Income Limits

·           Overview of Medical Assistance in Iowa

·           Welcome and Introduction to Benefits in Iowa

Source: Iowa Dept of Human Services Employees’ Manual

Title 8 Medicaid

·                        Chapter D, Resources

Legal reference: 441 IAC 75.1(28)"b"

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