[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 1190]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
               CHAPTER III--SOCIAL SECURITY ADMINISTRATION
 
PART 418_MEDICARE SUBSIDIES--Table of Contents
 
                   Subpart D_Medicare Part D Subsidies
 
Sec.  418.3415  How do we determine countable resources?

    (a) General rule. Your countable resources are determined as of the 
first moment of the month for which we determine your eligibility based 
on your application for a subsidy or for which we redetermine your 
eligibility for a subsidy. A resource determination is based on what 
assets you (and your living-with spouse, if any) have, what their values 
are, and whether they are excluded as of the first moment of the month. 
We will use this amount as your countable resources at the point when we 
determine your eligibility for the subsidy unless you report to us that 
the value of your resources has changed as described in Sec.  418.3120.
    (b) Equity value. Resources, other than cash, are evaluated 
according to your (and your spouse's, if any) equity in the resources. 
For purposes of this subpart, the equity value of an item is defined as 
the price for which that item, minus any encumbrances, can reasonably be 
expected to sell on the open market in the particular geographic area 
involved.
    (c) Relationship of income to resources. Cash you receive during a 
month is evaluated under the rules for counting income during the month 
of receipt. If you retain the cash until the first moment of the 
following month, the cash is countable as a resource unless it is 
otherwise excludable.