Topic: life insurance
Calculations to determine if any resources are deemed to minor disabled children from the parents
Instructions on Coding Resources in FACS
Oklahoma law provides that a purchaser (buyer) of a prepaid funeral contract may elect to make the contract irrevocable. For an irrevocable burial contract to be valid, the election to make it irrevocable must be made by the purchaser or the purchaser’s guardian or individual with power of attorney. **The irrevocable contract shall not be […]
Block 025 – House A – Possession of a home – principal place of residence S – Equity in non-excludable property is to increase in value T – Home and Equity in non-excludable property Z – None Blank – not determined Block 026 – Auto B – Vehicle – either over or under limit K […]
The resource standard for an individual is as shown on Appendix C-1 , Schedule VIII.D If applicant has a spouse, refer to article LTC: Spousal Impoverishment. Exempt Resources: Home Property (under certain circumstances) refer to article LTC: Home Property Overview. One Automobile, if it is used for transportation of the individual or member of the […]
The resource standard for an individual is as shown on Appendix C-1 , Schedule VIII.D If applicant has a spouse, see article entitled “Spousal Impoverishment” Exempt Resources: Home Property (as long as client continues to reside there and has equity interest less than the maximum home equity standard as shown on Appendix C-1, Schedule VIII.D.2) […]
Revocable burial fund – revocable means the grantor has retained the right to terminate or revoke the burial fund and reclaim the trust principal and income. A burial fund is a prepaid funeral contract or burial trust with a funeral home or burial association which is for the person’s burial expenses. Policy regarding this term […]
Insurance – examples of insurance include life, health, dental, vision, accidental death and dismemberment, and insurance for dependents. Life insurance policies with a cash value are considered as resources for SoonerCare (Medicaid) and TANF. When a person receives SoonerCare (Medicaid) and has medical insurance, the insurance is the first payer of medical claims. When an […]
If client has life insurance only.