| (a) To establish and maintain eligibility for MBI,
a person's countable resources must be equal to or less than $3,000
plus the amount of the Supplemental Security Income (SSI) resource
limit for an individual that is explained in 20 CFR §416.1205.
Countable resources means resources for SSI purposes as defined in
20 CFR §416.1205, minus all applicable exemptions and exclusions
explained in 20 CFR §§416.1207 - 416.1239.
(b) In addition to the exemptions and exclusions explained
in subsection (a) of this section, the following are not countable
resources under this section:
(1) Independence accounts.
(A) An independence account (IA) is a segregated account
in a financial institution, the purpose of which is to save for future
health care and work-related expenses to increase an individual's
independence and employment potential.
(B) Only a person's own earned income may be deposited
into an IA, and amounts deposited cannot exceed 50% of the person's
gross earnings. If for any SSA Qualifying Quarter a person deposits
more than 50% of the person's gross earnings into an account that
is designated as an IA, the account loses its IA designation and the
funds in the account become a countable resource for the 12-month
period beginning with the first month after the SSA Qualifying Quarter.
An SSA Qualifying Quarter is a three-month period that ends on March
31, June 30, September 30, and December 31 of each calendar year and
during which a person's reported earnings and FICA contributions are
enough for SSA to give the person Social Security wage credits.
(C) Only health care or work-related expenses may be
paid from an IA. For any SSA Qualifying Quarter, if funds in an IA
account are used for any other purpose, the account loses its IA designation
and the funds in the account become a countable resource for the 12-month
period beginning with the first month after the SSA Qualifying Quarter.
(2) Retirement related tax-sheltered accounts. Retirement
related tax-sheltered accounts include IRAs, 401(k)s, TSAs, and KEOUGHs
that comply with IRS regulations.
(3) Tuition savings programs. The Texas Health and
Human Services Commission excludes funds used to establish a tuition
savings program under §358.356 of this title (relating to Tuition
Savings Programs).
(4) Achieving a Better Life Experience (ABLE) Program.
HHSC excludes from the calculation of countable resources funds used
to establish an ABLE account and funds held in an ABLE account under §358.357
of this title (relating to Achieving a Better Life Program).
(5) School-Based Savings Program. HHSC excludes from
the calculation of countable resources funds held in a school-based
savings program under §358.358 of this title (relating to School-Based
Savings Program).
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| Source Note: The provisions of this §360.113 adopted to be effective September 1, 2009, 34 TexReg 5517; amended to be effective February 3, 2013, 38 TexReg 366; amended to be effective November 20, 2016, 41 TexReg 9005 |
