[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 1190-1191]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
               CHAPTER III--SOCIAL SECURITY ADMINISTRATION
 
PART 418_MEDICARE SUBSIDIES--Table of Contents
 
                   Subpart D_Medicare Part D Subsidies
 
Sec.  418.3420  How are funds held in financial institution accounts 
counted?

    (a) Owner of the account. Funds held in a financial institution 
account (including savings, checking, and time deposits also known as 
certificates of deposit) are considered your resources if you own the 
account and can use the funds for your support and maintenance. We 
determine whether you own the account and can use the funds by looking 
at how the account is held.
    (b) Individually-held account. If you are designated as the sole 
owner by the account title and you can withdraw and use funds from that 
account for your support and maintenance, all of that account's funds 
are your resource regardless of the source. For as long as these 
conditions are met, we presume

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that you own 100 percent of the funds in the account. This presumption 
is not rebuttable.
    (c) Jointly-held account. (1) If you are the only subsidy claimant 
or subsidy recipient who is an account holder on a jointly held account, 
we presume that all of the funds in the account belong to you. If more 
than one subsidy claimant or subsidy recipient are account holders, we 
presume that the funds in the account belong to those individuals in 
equal shares.
    (2) If you disagree with the ownership presumption as described in 
paragraph (c)(1) of this section, you may rebut the presumption. 
Rebuttal is a procedure which permits you to furnish evidence and 
establish that some or all of the funds in a jointly-held account do not 
belong to you.