Verification Requirements for Medicaid/MC+ and Cash Assistance Programs

0110.040.05 Cash and Securities

IM#93, December 28, 2016, IM#19 March 19, 2015

Verification of the amounts in savings and checking accounts and time deposits on deposit in banks or similar institutions is required. It may also be necessary to verify the closing of previously known accounts. Such verification can be secured from current (no more than 30 days old) bank statements or other papers which the claimant has or can secure. Verification can also be obtained directly from the institution with the claimant’s written permission (use form IM-6 or IM-7 to obtain permission).

NOTE: If the financial institution will not provide the information requested to the FSD, requires payment for the response, or requires a company specific form, inform the applicant/participant that they must obtain the information from the institution directly.

Self-attestation of a Direct Express account balance may be accepted if the information provided by the applicant/participant is not questionable. A Direct Express (DE) benefit debit card is used for deposit of federal benefits such as Supplemental Security Income (SSI), Social Security Retirement (OASDI), Railroad Retirement, or Veteran’s Administration benefits.

If the self-attestation is close to or exceeds the program resource maximum, the account balance must be verified. Current month’s income is excluded from a DE account.

The claimant’s statement as to the amount of cash in their home, on their person, or in a safe deposit box can be accepted provided there is no evidence for a contrary opinion.