SSI & Medicaid Regulations SSI and Medicaid regulations restrict an applicant from transferring, giving away or assigning assets in order to become eligible for benefits. Improperly transferred assets may result in ineligibility. Properly allocated funds, however, are excluded from resources when SSI, Medicaid or General Assistance eligibility is determined. What Does The Law Allow? Federal and State laws and regulations allow families to pay for funeral arrangements in advance.  They allow qualified funding vehicles such as funeral insurance policies and trust accounts, provided they are: 1.  Irrevocable 2.  Not refundable or used for purposes other than funeral expenses.   When the proper funding vehicles are used to prepay a funeral, the value of the prearranged funeral contract and the funding vehicle are excluded as a countable resource in determining SSI & Medicaid eligibility What Are The Benefits To Prepaying Funeral Arrangements Prior To SSI Or Medicaid Acceptance? Families can use funds that would otherwise be spent for living expenses or medical care, before they are eligible for SSI & Medicaid, ensuring an appropriate funeral of their choice. They can also use paid up Whole Life Insurance Policies for the same purpose. What If I Choose NOT To Prepay The Funeral Arrangement? If you choose not to prepay funeral arrangements prior to the determination of Medicaid eligibility you have two options. 1. You may accept the limited funeral funds provided by Medicaid, which severely restricts the type of funeral services and merchandise you may select. 2. You may choose not to accept the Medicaid funds and pay for the total funeral out of your own personal funds. There Are Also Many Other Benefits To Pre-planning A Funeral It relieves some of the burden for family members at a time of great emotional stress.      It ensures that one’s personal wishes are recorded and carried out in the funeral or memorial service. Family members are not forced to make decisions with uncertainty.  Pre-planning provides peace of mind. Families often become aware of benefits that were unknown to them, such as Social Security, Veterans Administration, fraternal or civic benefits. You Should Also Know That SSI & Medicaid Allows Individuals to Possess Only The Following: Personal Items  such as clothing, furnishings, appliances, jewelry,        equipment, and a car. Cash assets  limited to: $2,000 per individual $3,000 per couple. Existing Whole Life Insurance:  If the "face value" of a policy is: $1500 or less, it is not applied toward allowable cash assets. More than $1500,  apply the "cash value" of the policy toward the total allowable cash assets. Become Informed! If you have any questions regarding SSI & Medicaid regulations with regards to prepaying a funeral, call us so that we may put you in contact with the correct social services representative. Our Suggestions: Let’s talk over your family’s needs and determine what it is you’d like. A few minutes is all it takes. And it can save hours of pain and indecision at some future date. Call us at either of our 2 convenient locations.

Teaneck 789 Teaneck Rd. Teaneck, NJ 07666 201-836-0202

Oradell 268 Kinderkamack Rd. Oradell, NJ 07649 201-261-1088