Joint Checking/Savings Accounts

Joint Checking/Savings Accounts. A. Except for account ownership, all instructions in the above rule also apply to joint bank accounts. The information in this section pertains only to ownership of joint bank accounts. B. Ownership Assumptions for Joint Accounts. 1. Ownership is assumed as follows when the individual has unrestricted access to the account as follows: a) Ownership When Medicaid Client is Joint Owner with an Ineligible Individual(s): 1) Count the total value of the account when the Medicaid applicant/recipient holds funds jointly with an ineligible individual(s), regardless of the source of the funds. b) Ownership When More Than One Medicaid Client is an Account Holder: 1) Count an equal share of the account if two or more Medicaid applicants/recipients are holders of the same joint account, regardless of the source of the funds. 2) If the account is also jointly-held with ineligible individuals, do not allow a share of the funds to ineligible individuals. c) Deemors. 1) If one or more account holders is a deemor and none of the account holders is a client, all of the funds in the account are assumed belong to the deemor or in equal shares if more than one deemor. 2. Rebuttal of Joint Checking/Savings Accounts. a) An applicant or recipient may rebut ownership of part or all of the funds in a jointly- held account and must provide verification surrounding establishment of the account and ownership and expenditure of funds to support this claim. b) Any funds that the evidence establishes were owned by the other account holder(s), and that the client can no longer withdraw from the account, were not and are not the client’s resources. Rebuttal is both retrospective and prospective. c) The funds can be deemed to be available to the client if the account holder to whom the funds belong is a deemor.