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What resources count?

Social Security or your state must count your resources to decide if you qualify for extra help. Your resources include cash and other things that you normally can convert to cash within 20 workdays. Examples of resources that are and aren’t counted when deciding if you qualify include (but aren’t limited to) the following:

Resources counted:

  • Accounts at financial institutions (like savings; checking; money market; time deposits or certificates of deposit; and retirement, such as individual retirement accounts (IRA) or 401(k) accounts)
  • Stocks
  • Bonds
  • Savings bonds
  • Mutual fund shares
  • Promissory notes
  • The value of property that isn’t connected to your home



Resources NOT counted:

  • Life insurance policies you own with a combined face value of $1,500 or less ($3,000 or less for you and your spouse)
  • The home you live in and the land it’s on
  • Resources such as family heirlooms and wedding/engagement rings
  • Property of a trade or business which is essential to your means of self-support
  • Non-business property which is essential to your means of self-support
  • Funds received and saved to pay for medical and/or social services




(Primary Source: Centers for Medicare and Medicaid Services - Your Guide to Medicare Prescription Drug Coverage 2008. This content may have been enhanced by Q1Group LLC to include further examples, explanations, and links.)
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Tips & Disclaimers
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  • If you are enrolled in a Medicare plan with Part D prescription drug coverage, you may be eligible for financial Extra Help to assist with the payment of your prescription drug premiums and drug purchases. To see if you qualify for Extra Help, call: 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048, 24 hours a day/ 7 days a week or consult www.medicare.gov; the Social Security Office at 1-800-772-1213 between 7 a.m. and 7 p.m., Monday through Friday. TTY users should call, 1-800-325-0778; or your state Medicaid Office.
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  • Disclaimer for Chronic Condition Special Needs Plan (SNP): This plan is available to anyone with Medicare who has been diagnosed with the plan specific Chronic Condition.
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