All Medicaid Programs |
Obsolete Policy |
Do not count interest earned from SSI Lump Sum Funds paid to a minor child and deposited in a "dedicated account" which meets the requirements to be exempt as a resource. If a child continues to receive SSI after turning 18, and the dedicated account continues to meet exemption requirements, the interest continues to be excluded from income. If the dedicated account can no longer be excluded, or the person is no longer on SSI, both the principal and the interest earned on the funds become countable resources. (See section 531-2 for asset exclusion.) Do not count interest earned on retained funds as income.