An IRA can be a non countable resource for a Virginia resident who needs nuring home care. If the individual is a Virgnia resident who is eligible for a periodic payment, the IRA is not a resource, according to S1120.210:
Virginia DSS, Volume XIII S1120.210
B. Policy Principle A retirement fund owned by an eligible individual is a resource if he/she has the option of withdrawing a lump sum even though he/she is not eligible for periodic payments. However, if the individual is eligible for periodic payments, the fund may not be a countable resource.
A previously unavailable retirement fund is not income to its recipient when the fund becomes available. The fund is subject to resources counting rules in the month following the month in which it first becomes available.
Current as of January 1, 2009.