SSI Resource Policy Overview

SSI Resource Policy Overview. A. SSI policy specifies different exclusion limits or different ways to determine countable resources. If the resource policy has not been liberalized, SSI policy is applicable unless a subsequently issued federal statue or Medicaid regulation supersedes SSI policy. B. SSI policies include: 1. Eligibility is based on the individual’s countable resources as of the first moment of the first day of the month and is applicable to the entire month. a) If resources exceed the limit as of the first moment of the first day of the month, the individual or couple is not eligible for that month. b) It is not possible to “spenddown” resources within a month to establish eligibility for that month under SSI resource policy. 2. One automobile is automatically excluded regardless of value. 3. The value of life estates and remainder interest in real property is a countable resource. 4. The cash value of whole life insurance is excluded, if the combined face value of all policies on any individual is $1,500 or less. a) The combined face value of these excluded policies is used as an offset in determining burial fund exclusion.