#TuesdayTip: Direct Express Card


Hello and Welcome to today’s Tuesday Tip. Many of you might remember the old saying,
“April Showers bring May Flowers.” Well during the month of May we plan on showering
you with a bouquet of tips on Income Calculation pit falls. Each week we will have a tip for Assets, Income,
Allowance, Today we will talk about the Direct Express
Debit MasterCard. As you know SS has a hand full of recipients
that still receive a paper SS check. If the resident does not provide SS with a
checking or savings account number the recipients SS check is automatically deposited to the
Direct Express Card. The Treasury Department will grant exceptions
to the rule only in rare circumstances. Here’s the problem. The resident/applicants on the application
and/or the 50059’s do not claim this card as an asset – under asset section. Now in the resident’s or applicant’s defense,
they probably don’t know what an asset is. They see the words checking, savings, IRA
and think I don’t have any of those. The responsibility should be on management,
who should know that as of March 1, 2013 that any government periodic checks that did not
have specific accounts to be deposited in would be placed on the Direct Express card
program. The change applied to Social Security, Supplemental
Security Income, Veterans Affairs benefits, and anyone who receives benefits from the
Railroad Retirement Board, Office of Personnel Management and Department of Labor (Black
Lung). In order to remain consistent with HUD regulations,
benefits received through direct deposit OR the Direct Express Debit Card will continue
to be treated as income since the payment is a regular periodic payment. The balance on the Direct Express Debit Card
is considered an asset and will be verified in a manner consistent with existing savings
account verification requirements. (See RHIIP ListServ 296 issued February 27,
2013). As an Example: resident Sam Adams receives
$1200 a month gross in SS benefits that is deposited on the Direct Express Debit Card. However at certification his balance print
out that he provides to the manager (not older than 120 days) shows a balance of $300. The $1200 is counted as income and the $300
is counted as an asset. The 50059 should show income of $14,400.00
and an asset of $300 instead of the asset field being left blank. During an MOR the lack of displaying this
asset on the 50059 can result in a MOR finding. So make sure that you are displaying the Direct
Express balance as an asset. Hopefully this has been one of those blossoming
flowering May tips for you. We look forward to sharing with you again
next Tuesday.

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6 thoughts on “#TuesdayTip: Direct Express Card

  1. they Directly stole my money…DONOTSIIGHN…they will be exposed!!! i am so upset and shocked i cant tx..

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