405 TREATMENT OF RESOURCES (MAM)

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Resources are either excluded or countable depending on the type of assistance requested. Count the equity value of all countable resources unless otherwise specified.

If the individual has combined excluded resources with countable resources, the individual must verify the portion that is excludable. Encourage the individual to retain excluded resources separately from countable resources.

Accumulated interest, changes in equity value of life insurance policies, and changes in the value of stocks and bonds do not have to be reported between redeterminations.

Individuals already receiving benefits may reduce resources which are in excess of the program limit, if all the criteria below are met:

• The individual’s resources include personal property assets which cannot be readily converted to cash. Examples include vehicles, aboveground swimming pools, art objects, and investment antiques.

• The individual must report excess resources in a timely manner.

• The individual must reduce their resources to program limits no later than the month following the month in which resources first exceeded the limit. During this time period, the individual must prove to the District Office Supervisor that the individual is making a good faith effort to sell the personal property resource which caused the individual to exceed the resource limit. If the individual fails to reduce resources to allowable limits within this time period, terminate assistance for the entire assistance group.

References: He-W 856.04; RSA 167:17