State Treasurer McRae Finds, Returns $271,000 in Unclaimed Property to Mississippi Division of Medicaid

Treasurer David McRae has returned $271,000 in unclaimed property to the Mississippi Division of Medicaid. This adds to the more than $9 million in unclaimed property returned to Mississippi since Treasurer McRae took office in January. Of that, $5 million has been returned throughout the COVID-19 pandemic, providing critical economic relief to the state during this time.

“Throughout the pandemic, the State Treasury has found and returned more than $5 million to Mississippi’s economy,” said McRae. “This money has belonged to families, job creators, and schools, but we’ve also found money that belonged to agencies, like Medicaid. I’m hopeful that by finding and returning this money, we can lessen the burden taxpayers must carry during these already difficult financial times.”

Unclaimed property is turned over to the state when banks, credit unions, and even retail stores are unable to find the rightful owner. After five years, financial institutions turn that money over to the state and the Treasury’s Unclaimed Property Division is charged with finding the owner and returning the money.

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