Medicaid Policy
Medicaid Policy
1. If the individual claims an asset is not available, it may have no countable value. See 511 to determine if the asset is available.
2. The countable value of an asset, other than a vehicle, is the equity value of the asset.
The equity value of an asset is the difference between the current market value and any debt (encumbrance) against the asset including possible liens or loans.
The current market value is the amount of money the individual could get for the asset if it was sold on the open market. Accept an appraisal by a knowledgeable source for the current market value, if the asset's current market value cannot be otherwise determined.
3. To determine the countable value for vehicles, see 521-4.