5160:1-3-05.9 Medicaid: dividends and interest.

 

 

 

TO BE RESCINDED

 

5160:1-3-05.9              Medicaid: dividends and interest.

 

 

 

(A)    This  rule  describes  the  treatment  of  dividends  and  interest  for  the  purposes  of determining eligibility for medical assistance.

 

(B)  Definitions.

 

(1)   "Dividends" and "interest", for the purpose of this rule, are returns on financial institution accounts. A cash gift or incentive payment to open an account is considered interest.

 

(2)   "Financial institution account", for the purpose of this rule, is an individual or joint account such as checking or savings, certificate of deposit, stocks, bonds, etc.

 

(C)    Accrued dividends and interest on financial institution accounts are added to the principal and the total is evaluated as a resource.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5160:1-3-05.9                                            TO BE RESCINDED                                        2

Effective:                                                             08/01/2016

Five Year Review (FYR) Dates:                         04/15/2016

CERTIFIED ELECTRONICALLY

Certification

07/12/2016

Date

Promulgated Under:                           111.15

Statutory Authority:                           5160.02, 5163.02

Rule Amplifies:                                  5160.02, 5163.02

Prior Effective Dates:                         9/3/77, 2/1/79, 10/1/79, 1/3/80, 12/1/84 (Emer.),

2/10/85, 5/3/85 (Emer.), 8/1/85, 9/1/85 (Emer.),

11/25/85, 4/1/91, 10/1/02