Ohio Administrative Code Search

...medical assistance. (B) Definitions. (1) "Actual value" is the dollar amount that an individual paid for an item or service, or for his/her share of an item or service. (2) "Fair market value" is the dollar amount for which an item would sell on the local open market. (3) "Household" is a personal place of residence in which individuals share common living quarters and that functions as a single economic unit. (...

...employee pension plans (SEP-IRA), and 401k pension plans; or any other pension or retirement plans authorized under 401, 403, 408 of the Internal Revenue Code (IRC) as outlined in 26 U.S.C. (as in effect on February 1, 2016), or any other enacted IRC provisions providing for a pension or retirement plan or any other similar financial vehicles administered by an individual, employer, or union. A re...

...medical assistance. (B) Definitions. (1) "Countable resources" mean those resources remaining after all exclusions have been applied. (2) An "encumbrance" means a claim, lien, charge, or liability attached to and binding on an identified piece of real or personal property. (3) "Equity value" means the fair market value of a resource minus any encumbrance on it. (4) "Fair market value" of a resource means the goi...

...cal assistance. (B) Definitions. (1) "Countable resources" mean those resources remaining after all exclusions have been applied. (2) An "encumbrance" means a claim, lien, charge, or liability attached to and binding on an identified piece of real or personal property. (3) "Equity value" means the fair market value of a resource minus any encumbrance on it. (4) "Fair market value" of ...

...orceable to the same extent as section 5163.21 of the Revised Code. (B) Definitions. (1) "Beneficiary" means any person benefiting in some way from the trust. The beneficiary can be the grantor or another person. There may be more than one beneficiary of a trust. (2) "Grantor" means any person who creates a trust. For purposes of this rule, the term grantor includes: (a) An individual; (b...

...orceable to the same extent as section 5163.21 of the Revised Code. (B) Definitions. (1) "Beneficiary" means any person benefiting in some way from the trust. The beneficiary can be the grantor or another person. There may be more than one beneficiary of a trust. (2) "Grantor" means any person who creates a trust. For purposes of this rule, the term grantor includes: (a) An individual; (b...

...medical assistance. (B) Definitions. (1) "Cash" means money on hand or available in the form of currency or coins. Foreign currency or coins are cash to the extent that they can be exchanged for U.S. currency. (a) Monthly income is not counted when evaluating cash on hand. (b) The individual's statement of actual cash on hand is accepted without verification. (2) "Checking account" or "sa...

...medical assistance. (B) Definitions. (1) "Burial funds" are revocable burial contracts, revocable burial trusts, other revocable burial arrangements (including the value of certain installment contract for burial spaces), cash, financial accounts (checking or savings accounts), or other financial instruments with a definite cash value (e.g. stocks, bonds, etc.). (2) "Prepaid burial contract" means an agreement whe...

...medical assistance. (B) Definitions. (1) "Burial funds" are revocable burial contracts, revocable burial trusts, other revocable burial arrangements (including the value of certain installment contracts for burial spaces), cash, financial accounts (checking or savings accounts), or other financial instruments with a definite cash value (e.g., stocks, bonds, etc.). (2) "Prepaid burial contract" means an agreement w...

...cal assistance. (B) Definitions. (1) "Agreement," for the purpose of this rule, means a contract with a burial provider for a burial space held for the individual or a member of the individual's immediate family. (2) "Burial space," means a burial plot, gravesite, crypt, mausoleum, casket, urn, niche, or other repository customarily and traditionally used for the deceased's bodily remains. ...

...medical assistance. (B) Definitions. (1) "Agreement," for the purpose of this rule, means a contract with a burial provider for a burial space held for the individual or a member of the individual's immediate family. (2) "Burial space," means a burial plot, gravesite, crypt, mausoleum, casket, urn, niche, or other repository customarily and traditionally used for the deceased's bodily remains. The term also includ...

... that are considered unearned income: (1) Gifts, prizes, or awards. (2) Retirement or pension funds. (3) Judgments and out-of-court settlements. (4) Proceeds received as the beneficiary of a life insurance policy, including social security lump-sum death benefits. (5) Workers compensation payments when received as a lump-sum. (D) An unanticipated nonrecurring lump-sum payment is not ...

... that are considered unearned income: (1) Gifts, prizes, or awards. (2) Retirement or pension funds. (3) Judgments and out-of-court settlements. (4) Proceeds received as the beneficiary of a life insurance policy, including social security lump-sum death benefits. (5) Workers compensation payments when received as a lump-sum. (D) An unanticipated nonrecurring lump-sum payment is not ...

...ced the dividends or interest is: (1) A countable resource, the dividends and interest are excluded. (2) Excluded under a federal statute other than the Social Security Act, the dividends and interest are excluded. (3) Excluded under section 1613(a) of the Social Security Act as described in rule 5160:1-3-05.14 of the Administrative Code, the dividends and interest may or may not be exc...

...urce of the dividends or interest is: (1) A countable resource, the dividends and interest are excluded. (2) Excluded under a federal statute other than the Social Security Act, the dividends and interest are excluded. (3) Excluded under section 1613(a) of the Social Security Act as described in rule 5160:1-3-05.14 of the Administrative Code, the dividends and interest may or may not be excluded, depending on the ...

...medical assistance. (B) Definitions. (1) "Encumbrance" is defined in rule 5160:1-3-05.1 of the Administrative Code. (2) "Household goods," for the purpose of this rule, are all personal property customarily found in or near the home and used on a regular basis in connection with the maintenance, use, and occupancy of the premises. This encompasses items necessary for an adequate standard of sustenance, accommodati...

...he automobile for transportation. (1) For the purpose of determining the community spouse resource allowance for couples when one spouse is institutionalized, one automobile is considered totally excluded, regardless of its use and value in accordance with rule 5160:1-6-04 of the Administrative Code. (2) If an automobile is not excluded, count the equity value of the automobile as a reso...

...medical assistance. (B) Definitions. (1) "Home", for the purpose of this rule, means any property in which an individual has an ownership interest in and which serves as the individual's principal place of residence. Home includes the structures and land appertaining to the home property. Appertaining land must adjoin the land on which the home property is located and must not be separated by intervening land prope...

...cal assistance. (B) Definitions. (1) "Home," for the purpose of this rule, means any property in which an individual has an ownership interest and which serves as the individual's principal place of residence. Home includes the structures and land appertaining to the home property. Appertaining land must adjoin the land on which the home property is located and must not be separated by inter...

...r disabled. (B) Resource exclusions. (1) Resources excluded by federal laws other than the Social Security Act, in accordance with 20 C.F.R. 416.1236 (as in effect October 1, 2020), unless otherwise noted. This list contains unspent income from exempt sources: (a) Agent orange settlement payments received on or after January 1, 1989, under the Agent Orange Compensation Exclusion Act (Pub. L. No. ...

...sulting from a disaster, refer to rule 5160:1-3-05.14 of the Administrative Code. (B) Definitions. (1) "Proceeds" mean the net payments received by the seller after satisfaction of all encumbrances and sale expenses. (2) "Sale expenses" mean all expenses that must be paid by the seller in connection with the sale of the home, including but not limited to broker fees, commissions, legal fees...

...medical assistance. (B) Definitions. (1) "Date of signature" is the date on which an individual with authority to transfer the property actually signed. (2) "Life estate" means an ownership interest in property wherein one person holds the right to possess, use, and obtain profits from the property as long as he or she lives, while another person holds the actual ownership interest in the property. (a) A life est...

...medical assistance. (B) Definitions. (1) "Date of signature" is the date on which an individual with authority to transfer the physical property actually signed the life estate instrument. (2) "Individual," for the purpose of this rule, has the same meaning as in rule 5160:1-1-01 of the Administrative Code. (3) "Life estate" means an ownership interest in physical property wherein one person holds the right to po...

...ghts, and stock option purchases. (1) Stock shares represent ownership in a business corporation. Their value shifts with demand and may fluctuate widely. (2) The current market value of publicly traded stock as of the first moment of a given month is its closing price on the last business day of the preceding month. The stock closing price, on a given day, can usually be found in the next d...

...d rights, and stock option purchases. (1) Stock shares represent ownership in a business corporation. Their value shifts with demand and may fluctuate widely. (2) The fair market value of publicly traded stock as of the first moment of a given month is its closing price on the last business day of the preceding month. The stock closing price, on a given day, can usually be found in the next day's regulator or finan...