[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 1191]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
               CHAPTER III--SOCIAL SECURITY ADMINISTRATION
 
PART 418_MEDICARE SUBSIDIES--Table of Contents
 
                   Subpart D_Medicare Part D Subsidies
 
Sec.  418.3425  What resources do we exclude from counting?

    In determining your resources (and the resources of your spouse, if 
any) the following items shall be excluded:
    (a) Your home. For purposes of this exclusion, a home is any 
property in which you (and your spouse, if any) have an ownership 
interest and which serves as your principal place of residence. This 
property includes the shelter in which an individual resides, the land 
on which the shelter is located, and outbuildings;
    (b) Non-liquid resources, other than nonhome real property. Non-
liquid resources are resources that are not liquid resources as defined 
in Sec.  418.3405. Irrevocable burial trusts and the irrevocable portion 
of prepaid burial contracts are considered non-liquid resources;
    (c) Property of a trade or business which is essential to the means 
of self-support as provided in Sec.  416.1222 of this chapter;
    (d) Nonbusiness property which is essential to the means of self-
support as provided in Sec.  416.1224 of this chapter;
    (e) Stock in regional or village corporations held by natives of 
Alaska during the twenty-year period in which the stock is inalienable 
pursuant to the Alaska Native Claims Settlement Act (see Sec.  416.1228 
of this chapter);
    (f) Life insurance owned by an individual (and spouse, if any) to 
the extent provided in Sec.  416.1230 of this chapter;
    (g) Restricted allotted Indian lands as provided in Sec.  416.1234 
of this chapter;
    (h) Payments or benefits provided under a Federal statute where 
exclusion is required by such statute;
    (i) Disaster relief assistance as provided in Sec.  416.1237 of this 
chapter;
    (j) Funds up to $1,500 for the individual and $1,500 for the spouse 
who lives with the individual if these funds are expected to be used for 
burial expenses of the individual and spouse;
    (k) Burial spaces, as provided in Sec.  416.1231(a) of this chapter;
    (l) Title XVI or title II retroactive payments as provided in Sec.  
416.1233 of this chapter;
    (m) Housing assistance as provided in Sec.  416.1238 of this 
chapter;
    (n) Refunds of Federal income taxes and advances made by an employer 
relating to an earned income tax credit, as provided in Sec.  416.1235 
of this chapter;
    (o) Payments received as compensation incurred or losses suffered as 
a result of a crime, as provided in Sec.  416.1229 of this chapter;
    (p) Relocation assistance from a State or local government, as 
provided in Sec.  416.1239 of this chapter;
    (q) Dedicated financial institution accounts as provided in Sec.  
416.1247 of this chapter;
    (r) A gift to, or for the benefit of, an individual who has not 
attained 18 years of age and who has a life-threatening condition, from 
an organization described in section 501(c)(3) of the Internal Revenue 
Code of 1986 which is exempt from taxation under section 501(a) of such 
Code. The resource exclusion applies to any in-kind gift that is not 
converted to cash, or to a cash gift that does not exceed $2,000; and
    (s) Funds received and conserved to pay for medical and/or social 
services as provided in Sec.  416.1103 of this chapter.

                      Adjustments and Terminations