1. (1) An Individual Development Account (IDA) is a trust-like savings account established under P.L. 105-285 designed to help low-income individuals save for specified purposes. The individual makes deposits from their earnings, and these are matched by a combination of government and private-sector funds.

2. (2) For eligibility determinations in all programs:

   1. (a) Except for SNAP, deposits from the account holder's earnings are excluded from gross earned income. For SNAP, the deposit remains countable earned income.
   2. (b) Matching deposits from government and private-sector funds are excluded from income.
   3. (c) The IDA savings account is excluded from resources.
   4. (d) Interest earned by the IDA savings account is excluded from income.
3. (3) For patient liability calculations (see OAR 461-160-0610), all income deposited into an IDA savings account is counted as earned income.
4. (4) In all programs except the OSIP, OSIPM, and QMB programs, if an individual makes an emergency withdrawal from the IDA savings account, that income is counted as lump-sum income. In the OSIP, OSIPM, and QMB programs, emergency withdrawals from an IDA savings account are excluded.

Statutory/Other Authority

ORS 329A.500, 509.050, 411.060, 411.404, 411.700, 411.816, 412.014, 412.049, 413.085 & 414.685

Statutes/Other Implemented

ORS 411.060, 411.700, 411.404, 411.816, 412.014, 412.049, 413.085 & 414.685

History

SSP 63-2021, minor correction filed 12/14/2021, effective 12/14/2021
SSP 23-2017, f. 9-11-17, cert. ef. 10-1-17
SSP 17-2008, f. & cert. ef. 7-1-08