Property 101
Property is considered this if the individual has the legal right to liquidate it
What is available?
If there is more than one vehicle, this one is considered exempt if used for transportation
What is the highest valued vehicle?
The process of reducing the property reserve
What is spenddown?
Manual budget for determining the MBFUs property reserve
MC 176 P
This property is always exempt, no matter the value, as long as they live there
What is the primary residence?
Non-MAGI Programs not required to meet property requirements
What is Pickle, DAC, and DW Programs?
Amount that is counted for all nonexempt vehicles
What is reasonable value less encumbrances?
The form number CWDs are required to send to inform providers Medi-Cal is not liable for services
What is an MC 174?
Maximum amount of countable property a single adult can own to qualify for Non-MAGI MC
What is $130,000?
These two personal items are always exempt
What are clothing and household goods?
Type of property that must be utilized in order to receive an exemption
What is Other Real Property?
Vehicles used for income-producing purposes, like a work truck, are considered this
What is exempt property?
An applicant who is over the property limit will have this informing notice sent to them
What is an MC 007?
Line on property budget that must be counted as income to determine SOC
What is line B9?
This type of property can be considered exempt if you get money from it
What is income-producing property?
The market value minus encumbrances is this
What is the Net Market Value?
Website used to determine fair market value of most vehicles
What is KBB?
An individual can receive this if they spent more than needed on a medical bill
What is a reimbursement?
Property limit for an MFBU of 10
What is $715,000?
Life insurance policies with a total face value of this amount are exempt
What is $1,500?
Written agreement that can be changed by its owner or by State Law at any time
What is a Revocable Trust?
A vehicle is this if the encumbrance is greater than the fair market value
What is $0 value?
An exemption an individual is given when they were determined to have excess property and spends the excess property on qualified medical expenses in a later month
What is Principe vs Belshe?
Budgeting concept of allocating property to natural or adoptive children
What are Sneede Rules?
An agreement where one person gives assets to another to manage for the benefit of another
What is a trust?