SI SF01220.320 Hawaii Grandfathered Resource Provisions

A. Dollar maximum

Under the State Plan, liquid assets of a certain value may be excluded depending on the number of persons in the family. The dollar maximums are:

one person

$300

two persons

$400

three or more persons

$500

In addition, any savings accumulated as a result of earned or unearned income disregards are not a countable resource.

B. Home

A home, and land contiguous to the home, which the recipient owns and in which he or she resides is excluded if the tax-appraised value is $25,000 or less.

C. Other real property

There are three provisions for the exclusion of real property other than the home in the Hawaii State Plan:

  1. Real property owned by the recipient if the tax-appraised value is $225 or less

  2. A burial plot owned by the recipient

  3. Other real property (rental property) if it produces a net income over and above the cost of maintaining the property. For this exclusion, the State Plan does not require a minimum percentage of return.

D. Household goods

Excluded

E. Personal effects

Excluded

F. Life insurance

On all life insurance policies owned by the recipient, the full loan or cash surrender value is a countable resource to be applied to the dollar maximum.

G. Automobile

The value of an automobile is a countable resource if the automobile is less than four (4) years old AND the sale of the automobile at current market value (minus encumbrances) will net at least $400.

The value of an automobile is excluded if it can be established that the automobile is needed for:

  • getting to and from employment

  • obtaining medical treatment

  • marketing

  • travel in remote areas where public transportation is lacking or is inadequate

  • obtaining schooling or vocational training


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http://policy.ssa.gov/poms.nsf/lnx/0501220320SF
SI SF01220.320 - Hawaii Grandfathered Resource Provisions - 02/24/2015
Batch run: 02/24/2015
Rev:02/24/2015