[Code of Federal Regulations]
[Title 20, Volume 2]
[Revised as of April 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR418]

[Page 1189-1190]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
               CHAPTER III--SOCIAL SECURITY ADMINISTRATION
 
PART 418_MEDICARE SUBSIDIES--Table of Contents
 
                   Subpart D_Medicare Part D Subsidies
 
Sec.  418.3405  What types of resources do we count?

    (a) We count liquid resources. Liquid resources are cash, financial 
accounts, and other financial instruments which can be converted to cash 
within 20 workdays, excluding certain nonworkdays as explained in Sec.  
416.120(d) of this chapter. Examples of resources that are ordinarily 
liquid are stocks, bonds, mutual fund shares, promissory notes, 
mortgages, life insurance policies, financial institution accounts 
(including savings, checking, and time deposits, also known as 
certificates of deposit), retirement accounts (such as individual 
retirement accounts (IRA), 401(k) accounts), trusts if they are 
revocable, funds in an irrevocable trust if

[[Page 1190]]

the trust beneficiary can direct the use of the funds, and similar 
items. We will presume that these types of resources can be converted to 
cash within 20 workdays and are countable as resources for subsidy 
determinations. However, if the individual establishes that a particular 
resource cannot be converted to cash within 20 workdays, we will not 
count it as a resource.
    (b) We count the equity value of real property as a resource 
regardless of whether it can be sold within 20 workdays. However, we do 
not count the home that is your principal place of residence and the 
land on which it is situated as a resource as defined in Sec.  
418.3425(a).