415 TRANSFER OF ASSETS (MAM)

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Assets include all types of income and resources from applicants, recipients or the individual’s spouse for institutionalized medical assistance..

Transfer of Assets applies only to HCBC or institutionalized MA cases. It does not affect other MA only cases.

Evaluate asset transfers to determine if the individual received fair market value and if the resources were transferred for the purposes of qualifying for institutionalized medical assistance.

Exception: Transfers by an applicant or recipient from a personal resource such as a checking or savings, in to an ABLE/STABLE-NH account to qualify for benefits are exempt from the evaluation process and penalty period. There is, however, no special treatment for contributions made to another person’s ABLE/STABLE-NH account. When an applicant or recipient contributes to another individual’s ABLE/STABLE-NH account and then applies for benefits for themselves, the contribution is considered an asset transfer.

Example 1: Debra transfers $5,000 from her personal checking account into her ABLE/STABLE-NH account. Debra’s personal countable resources will be reduced when determining her eligibility. An ABLE/STABLE-NH account is an excluded resource and excluded from the Transfer of Assets review.  

Example 2: Florence transfers $5,000 from her personal checking account into David’s ABLE/STABLE-NH account. This transfer of assets must be accounted for when determining Florence’s eligibility.

See Adult Assistance Manual, PART 415, TRANSFER OF ASSETS, for additional information on transfers, or for policy when financial assistance is involved.

References: RSA 167:4, I(a),(b); RSA 167:7, IV; He-W 820.02(b),(f),(i); He-W 820.03; He-W 856.01; 42 USC 1382b