Assets Overview - SNAP

Overview

Assets are Non-countable for Categorically Eligible Households

The asset eligibility limits and transfer of funds penalties do not apply to categorically eligible households.

The asset eligibility limits and transfer of assets rules are applied to any household which contains a member disqualified from receiving SNAP benefits due to:

  • a failure to comply with the SNAP Work Program
  • a disqualification for Intentional Program Violation (IPV), receipt of multiple SNAP benefits, trading SNAP benefits, being a fleeing felon or Voluntary Quit

The asset eligibility limits and transfer of funds rules are also applied to any household that contains a non-SSI elder household member with income in excess of the 200% Categorical Eligibility Gross Income Standards.

Asset Limits

The total value of countable liquid and non-liquid assets owned by a household subject to asset limits shall not exceed the following:

  1. $4,500 for any household that includes at least one member who is:
    1. aged 60 or over; and/or
    2. disabled as described and verified in accordance with policy; and
  2. $3,000 for all other households

Assets are objects of value such as:

  • personal property
  • real estate
  • vehicles (currently not countable as an asset for SNAP)
  • the cash surrender value of life insurance
  • cash
  • bank deposits; and
  • negotiable securities

Countable assets are all assets that are considered in the determination of eligibility.  Non-countable assets are exempt from the determination of eligibility.  Verification of assets is mandatory if the household does not meet the categorical eligibility exception.

Important: Interest received on an investment or asset may be countable as Unearned or Other Income Introduction.  Categorically eligible households are not exempt from this rule.

Non-liquid Assets

The countable value of a non-liquid asset is its equity value.  The equity value of an asset is its fair market value less any encumbrances.

The equity value of non-liquid assets must be verified when information provided by household members is inconsistent with statements made by the household, with information on the current or previous applications, or with information known to you.

Entering Real Property Data in BEACON

Jointly Owned Assets

Jointly owned assets are considered available in their entirety to the household unless the household can demonstrate that the asset is inaccessible. If a household has access to only a portion of the asset, that portion will be counted to the household. Assets will be considered unavailable or inaccessible only when the asset cannot practically be subdivided and a household’s accessibility is contingent on the agreement of a joint owner who refuses to comply. Ineligible aliens and disqualified household members are considered as a part of the household.

Joint assets are considered to be inaccessible to residents of shelters for battered women and children when the asset is owned jointly with members of the former household and the person’s access is contingent on an agreement with a joint owner who resides in the former household.