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MassHealth Asset Limits

The MassHealth Asset Limits apply only to those who are aged 65 and older, or are institutionalized, or who would be institutionalized without community-based services. [Ref: 130 CMR 519.002(A)(1)].

Furthermore, the phrase "Individuals Who Would Be Institutionalized" is defined in 130 CMR 519.007 to be:

·   Children under the age of 18 who are served under the Kaileigh Mulligan Program;

·   Individuals who have a disability, are over age 60 and receive services through a Home and Community Based Services (HCBS) Waiver that is administered by the Executive Office of Elder Affairs; and

·   Individuals who have a disability and are aged 55 thru 64 (or who are aged 65 or older) and who have medical services provided in a community-based Program of All-Inclusive Care for the Elderly (PACE).

NOTE: The current version of WorkWORLD does not calculate the income and asset eligibility for these populations. If you would like WorkWORLD to do such calculations, go to http://www.workworld.org and contact us.

The total value of countable assets owned by or available to individuals applying for or receiving MassHealth Standard, or MassHealth Basic, or Limited may not exceed:

·     For an individual – $2,000; and

·     For a couple living together in the community – $3,000 (unless one spouse is covered by MassHealth under an HCBS Waiver – in which case the individual limit is applied)

[See below for lists of countable and non-countable assets.]

The total value of countable assets owned by or available to individuals applying for or receiving MassHealth Buy-In may not exceed:

·     For an individual – $4,000; and

·     For a couple living together in the community – $6,000 (unless one spouse is covered by MassHealth under an HCBS Waiver – in which case the individual limit is applied)

Countable Assets

·     Cash, Bank Accounts, Securities.

·     Individual Retirement Accounts (IRAs), Keogh Plans, Pensions, Annuities – generally, the cash value of the amounts minus any penalties for early withdrawal. Pension plans of current employers are not counted.

·     Cash Surrender Value of Life Insurance.

·     Vehicles – One vehicle per household is non-countable if it is for the use of the individual living in the community. The equity value of all other vehicles is a countable asset.

·     Real Estate – All real estate owned by the individual and the spouse, with the exception of the principal place of residence, is countable.

·     Retroactive Supplemental Security Income (SSI) and Retirement, Survivors and Disability Insurance (RSDI) Benefit Payments beginning in the 8th month after receipt. (Non-countable in the month of receipt and for the next six months if deposited in a separately identifiable account.)

·     Trusts – the regulations regarding trusts are quite complex. They can be found at 130 CMR 520.021 thru 520.024.

NOTE: The Code of Massachusetts Regulations is available at: http://www.lawlib.state.ma.us/cmr.html.

Non-Countable Assets

·     The home of the applicant or member, if used as the principal place of residence.

·     Assets of an SSI Recipient.

·     Proceeds from the sale of a home, provided the proceeds are used to purchase another home to be used as the principal place of residence. Such proceeds are non-countable for three calendar months following the month of receipt.

·     Business or non-business property essential to self-support and property excluded under an SSA-approved Plan for Achieving Self-Support (PASS).

·     Any loan or grant if the terms preclude their use for current maintenance.

·     Burial plots and burial insurance with a face value not to exceed $1,500. Prepaid irrevocable burial contracts or trusts.

·     Veterans' payments for aid and attendance, unreimbursed medical expenses, housebound benefits, and enhanced benefits retained after the month of receipt, provided these payments are separately identifiable.

·     Trusts – the regulations regarding trusts are quite complex. They can be found at 130 CMR 520.021 thru 520.024.

NOTE: The Code of Massachusetts Regulations is available at:
http://www.lawlib.state.ma.us/cmr.html.

·     Any other assets considered non-countable for eligibility under Title XIX of the Social Security Act.

Additional Information

Detailed regulations concerning the transfer of assets, the valuing of assets, and qualifications to the above general principles (130 CMR 520), can be downloaded in PDF format (requires Adobe Acrobat Reader) at:
http://www.mass.gov/Eeohhs2/docs/masshealth/regs_member/regs_memb_520.pdf

See also:

MassHealth Basic Eligibility Standards

MassHealth Income Limits

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