Supplemental Security Income & Medicaid Tips

10 Things You Should Know About Medicaid, SSI and Irrevocable Trusts

  1. Medicaid is a joint State, Federal and County program, which provides medical assistance to lower income individuals with limited assets.

  2. Supplemental Security Income is a federally administered program to assist individuals who have reached an age of 65 + or have been legally classified as blind or disabled.

  3. 2017 Medicaid Resource Limits  (Excludes irrevocable burial account, house, car, and life Insurance with a face value of $1500.00 or less.)
    • 1 Person Household -- $14,850 
    • 2 Person Household -- $21,750
    • The Federal maximum community spousal resource allowance is $120,900​
  4. 2017 SSI Resource Limits: (Excludes irrevocable burial account, life insurance with face value of $1,500 or less.)
    • 1 Person Household - $2,000
    • 2 Person Household - $3,000
  5. An individual MAY NOT have an irrevocable trust agreement unless they have applied for or are currently receiving Medicaid benefits.

  6. An irrevocable trust may be transferred to a different funeral home at any time.

  7. If there is an overage after funeral services have been performed, the funds must be sent to the county Department of Social Services where the beneficiary resided and received assistance.

  8. As of January 1, 1997 all pre-arrangements made for applicants or recipients of SSI/Medicaid must be irrevocable.

  9. Advertisements for prearrangement services must include a disclosure explaining the irrevocable nature of contracts prepared for Medicaid/SSI recipients or applicants.
  10. As a member funeral home of the PrePlanSM Trust Program, you can rest assured knowing that all of our prearrangement contracts are in 100% compliance of Medicaid/SSI rules and regulations and are FDIC Insured.