The phrase "asset tests" is correct and usable in written English.
It is typically used in the context of evaluating an individual's financial resources or eligibility for certain programs or benefits.
Example: "Before approving the application, the agency conducted asset tests to determine the applicant's financial status."
Alternatives: "financial assessments" or "resource evaluations".
Some states are more lenient in their income and asset tests, others less so.
Representative Nathan Deal, Republican of Georgia, said "the poorest of the poor" had long been subject to income and asset tests when applying for Medicaid.
They cannot save for college (California is not among the states that have exempted 529 college savings plans from their asset tests).
Those measures include simplifying applications for coverage, eliminating asset tests that sometimes intimidate eligible families, requiring states to change their minimum eligibility periods to a year from six months, and allowing families to apply by mail instead of in person.
The Coalition is seeking savings of $2.4bn over four years from changes to pension asset tests, a policy that replaced the unpopular plan in the 2014 budget to cut pension indexation across the board.
To make enrollment easier, Alabama has eliminated asset tests for children, ended requirements for an in-person interview and allowed children to remain eligible for a year without renewal.
Food stamps effectively no longer have an asset test.
Jacqueline B. Kosecoff of UnitedHealth Group, the largest Medicare drug plan, said, "We support elimination of the asset test".
Texas increased monthly premiums for the children's health program and imposed an asset test for families.
Australians can claim a pension while living in multi-million dollar homes: bring place of residence into the asset test.
He and others suggest insurance eligibility should follow programs like free school lunch, which has no asset test requirements.
