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Title 8: Medicaid Page 95 Iowa Department of Health and Human Services Employees’ Manual Chapter D: Resources Specific Non-MAGI-Related Resources Revised September 13, 2024 Burial Contracts

Burial Contracts (Cont.) Burial Contracts

If the client has… Countable resource? Transfer of asset?

Paid cash and burial contract is:

 Revocable Yes. See below on how to count. No

 Irrevocable No No

No burial contract and burial funds are:

 Revocable Yes No

 Irrevocable No Yes. See transfer of asset chart.

Revocable burial contract funded by:

 Revocable burial funds Yes. See below on how to count. No

 Irrevocable burial funds No Yes. See transfer of asset chart.

 Life insurance policy with funeral home as the beneficiary Yes, unless otherwise excluded. No

 Life insurance policy irrevocably assigned to funeral home No Yes. See transfer of asset chart.