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Once eligible for W-2, if the W-2 Group ’s assets are expected to exceed $2,500 for at least two consecutive months, the group becomes ineligible for W-2. Participants must report any change in assets within 10 calendar days of the occurrence. However, the FEP must enter only changes in assets over $100 when notified. At review, the FEP must incorporate all changes in assets.
EXAMPLE 1: Maya’s father dies and he leaves her his car. The equity value of the car is $13,000. Maya intends to keep the car as it has sentimental value for her. While $10,000 of the equity value is disregarded, the remaining $3,000 equity value puts Maya $500 over the $2,500 asset limit. Maya reports taking possession of the car on February 10th. When Maya’s worker runs eligibility on February 10th, Maya fails the W-2 asset test for the months of March and April and Maya’s case will close effective February 28th.
EXAMPLE 2: Carolyn received her tax refund of $2,505 on April 16th. She expects to use most of the money for past bills and other living expenses. She may continue in her Trial Job employment position as it is not expected that her assets will remain over the $2,500 limit for two consecutive months. The agency may ask Carolyn to send in her bank statement both months to check if she is over the asset limit for two consecutive months.
This
page last updated in Release # 09-01
Release Date: 04/06/09
Effective Date: 04/06/09