Noncountable Assets

Noncountable assets are those assets exempt from consideration when determining the value of assets. In addition to the noncountable assets described in 130 CMR 520.006 and 520.007, the following assets are noncountable. (A) The Home. The home of the applicant or member and the spouse and any land appertaining to the home, as determined by the MassHealth agency, if located in Massachusetts and used as the principal place of residence, are considered noncountable assets, except when the equity interest in the home exceeds the amount described in 130 CMR 520.007(G)(3). The home is subject to the lien rules at 130 CMR 515.012: Real Estate Liens. If the home is placed in a trust or in an arrangement similar to a trust, the MassHealth agency will apply the trust rules at 130 CMR 520.021 through 520.024. (B) Assets of an SSI Recipient. The assets of an SSI recipient are exempt from consideration as countable assets. (C) Proceeds from the Sale of a Home. The proceeds from the sale of a home used by the applicant or member as the principal place of residence, provided the proceeds are used to purchase another home to be used as the principal place of residence, are considered noncountable assets. Such proceeds are exempt from consideration as countable assets for the three calendar months following the month of receipt. The MassHealth agency places a lien before the death of the member against any real estate in which the member has a legal interest in accordance with 130 CMR 515.012: Real Estate Liens. (D) Business and Nonbusiness Property. Business and nonbusiness property essential to self- support and property excluded under an SSA-approved plan for self-support are considered noncountable assets. (E) Any Loan or Grant. Any loan or grant including, but not limited to, scholarships, the terms of which preclude their use for current maintenance, is considered a noncountable asset. (F) Funeral or Burial Arrangements. (1) The following funeral or burial arrangements for the applicant, member, or spouse are considered noncountable assets: (a) any burial space, including any burial space for any immediate family member; (b) one of the following: 1. a separately identifiable amount not to exceed $1,500 expressly reserved for funeral and burial expenses; or 2. life-insurance policies designated exclusively for funeral and burial expenses with a total face value not to exceed $1,500; (c) the cash-surrender value of burial insurance; and (d) prepaid irrevocable burial contracts or irrevocable trust accounts designated for funeral and burial expense. (2) Appreciated value or interest earned or accrued and left to accumulate on any contracts, accounts, or life insurance is also noncountable. If the applicant, member, or spouse uses any of these assets, including the interest accrued, for other than funeral or burial arrangements of the applicant, member, or spouse, the MassHealth agency considers the asset available and countable under the provisions of 130 CMR 520.007, 520.018, and 520.019. (3) The applicant, member, or spouse has the right to establish a burial arrangement or change the designation of his or her funds to a burial arrangement described in 130 CMR 520.008(F). If such arrangement is made within 60 days after the date that the applicant or member was notified of his or her right to do so, then the MassHealth agency considers the arrangement to have been in existence on the first day of the third month before the application. (G) Veterans’ Payments. 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, are considered noncountable assets. Appreciated value and earned interest are also noncountable. (H) Special-needs Trust. Effective until sixty days after the end of the maintenance of effort and continuous eligibility provisions of Section 6008 of the Families First Coronavirus Response Act (Public Law No. 116-127), a special-needs trust in accordance with the trust rules at 130 CMR 520.021 through 520.024 is considered a noncountable asset. Effective sixty days after the end of the maintenance of effort and continuous eligibility provisions of Section 6008 of the Families First Coronavirus Response Act (Public Law No. 116- 127), a valid special-needs trust as determined by the MassHealth agency in accordance with 130 CMR 515.001: Definition of Terms and the trust rules at 130 CMR 520.021 through 520.024 is considered a noncountable asset. A special-needs trust that does not meet federal Medicaid and state MassHealth requirements may be considered a countable asset or transfers into such trusts may be considered disqualifying transfer of resources. (I) Pooled Trust. Effective until sixty days after the end of the maintenance of effort and continuous eligibility provisions of Section 6008 of the Families First Coronavirus Response Act (Public Law No. 116-127), a pooled trust in accordance with the trust rules at 130 CMR 520.021 through 520.024 is considered a noncountable asset. Effective sixty days after the end of the maintenance of effort and continuous eligibility provisions of Section 6008 of the Families First Coronavirus Response Act (Public Law No. 116- 127), a valid pooled trust as determined by the MassHealth agency in accordance with 130 CMR 515.001: Definition of Terms and the trust rules at 130 CMR 520.021 through 520.024 is considered a noncountable asset. A pooled trust that does not meet federal Medicaid and state MassHealth requirements may be considered a countable asset or transfers into such trusts may be considered disqualifying transfer of resources. (J) ICF/MR Trust. A trust established before April 7, 1986, solely for the benefit of a resident of an intermediate-care facility for the mentally retarded (ICF/MR) is considered a noncountable asset. (K) Other Assets. Any other assets considered noncountable for Title XIX eligibility purposes is considered a noncountable asset.