The facility must deposit any resident's personal funds in excess of how many dollars in an interest bearing account?

In the context of Indiana regulations regarding the management of resident personal funds within healthcare facilities, the requirement states that any resident's personal funds exceeding a specific threshold must be deposited in an interest-bearing account. This practice aims to safeguard the financial interests of residents and ensure that their funds are appropriately managed.

The stipulated limit for depositing personal funds into an interest-bearing account is set at 50 dollars. This amount ensures that residents have access to their funds while also allowing for the accumulation of interest on any balance above this threshold. By requiring funds over this amount to be placed in an interest-bearing account, facilities help to promote financial stability and protect the assets of individuals residing there.

This regulation not only serves to foster responsible fiscal management but also supports residents in maximizing the value of their funds during their stay at the facility.