This bill requires states and U.S. territories to implement asset verification programs and resources tests for all enrollees as a condition of Medicaid eligibility (such requirements are currently generally limited to individuals who are eligible for Medicaid on the basis of being aged, blind, or disabled, and do not apply in all U.S. territories).

The Centers for Medicare & Medicaid Services (CMS) must distribute any resulting federal savings to states for two years; states may use the funds to support maternal and child health under Medicaid or for other purposes that are approved by the CMS. The CMS must also track and report on any savings. The Government Accountability Office must report on the efficacy of the asset verification programs.