All Medicaid Programs |
Obsolete Policy |
No Previous Policy
Unearned income is cash (checks, direct deposits, etc.) or in-kind benefits received by an individual for which a person performs no service.
Income does not include money, goods or services received from the sale, exchange, or replacement of assets. The proceeds from the transfer of a resource are still a resource, not income. This includes money received from a reverse equity mortgage or a viatical settlement of an insurance policy. The transferred resource could have been exempt or countable; however, an exempt resource may be sold or exchanged for a different type of resource that counts as an available resource, i.e., an exempt car sold for cash. (See Section 403-9 for explanation of Sales Contracts.)