Does Federal and State law permit the prepayment of funeral arrangements?
Yes. Federal and State law permit, through the use of qualified trust funds, the prepayment of funeral arrangements. When you apply for these programs, the funds set aside will be excluded as resources, which might otherwise delay eligibility. Effective January 1, 1997, New York State Law mandates that all contracts for prefunded funerals executed by applicants for or recipients of Medicaid be Irrevocable. How does Pre-Arranging assist you in ensuring acceptance? When people elect to prepay their funeral arrangements, New York law requires the funeral director to deposit 100% of the money into a trust account. Each account is fully insured by the FDIC to the extent permitted by law. By Pre-Arranging for SSI/Medicaid purposes you may select and completely prefund the funeral of your choice. What is an Advantage of Pre-Paying? Federal and State law provide that properly trusted assets intended for the payment of funeral expenses will not be considered a resource when SSI/Medicaid eligibi
