Funds Held in Another Individual’s Account

Funds Held in Another Individual’s Account. A. The value of funds deposited or held for an applicant/recipient in an account that does not have the client’s name on it are countable if: 1. The holder(s) of the account agrees that the funds on deposit, or a portion thereof, belong to the applicant/recipient, and 2. The funds are available to the client. B. If some or all of the funds are acknowledged as belonging to the client and are available, the account is treated as a countable resource to the extent the funds belong to the client. C. Documentation will include written statements from the client and the holder(s) of the account. D. Entitlement income deposited into an account which is not owned by the client does not alter the fact that the income belongs to the client and is used to determine eligibility and Medicaid Income (if applicable). E. Funds belonging to the client (including non-entitlement income) deposited into another person’s account and not accessible to the client are subject to a transfer penalty, if applicable. 1. A transfer may exist even if the funds are not acknowledged as belonging to the client when evidence indicates the client’s funds are deposited and retained in the account.