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288 (07/2026) Chapter 2:Eligibility • Section 5: Financial eligibility $1,000 combined equity value of burial arrangements with a licensed funeral director (plus accrued interest) and life insurance policies. Count the combined amount of cash and equity value of all life insurance and burial arrangements exceeding $1,000 as a resource. • For OSIPM:

Š Exclude the amount in an irrevocable burial trust or any other irrevocable arrangement to cover burial costs. Note: The cash surrender value (CSV) of a life insurance policy can be excluded if the ownership of the policy has been irrevocably assigned to a funeral home. If a funeral home is named as the irrevocable beneficiary (instead of an irrevocable transfer of ownership), the policy can only be excluded if the assignment contains specific language that prevents the owner of the policy from accessing the cash surrender value of the policy by loan or policy cancellation.

Š Burial insurance that does not generate a cash surrender value or generates cash surrender value to which the owner does not have access, is considered an irrevocable arrangement and excluded.

Š Burial insurance that generates a cash surrender value to which the owner has access is considered life insurance and is treated in accordance with the policy on life insurance and, as applicable, burial insurance as noted in the bullet above. • For OSIPM (except as provided above), HSD medical programs and MSP, treat a burial arrangement the same as a burial fund. A burial fund is treated as follows: • For OSIPM:

Š A burial fund can only be established from cash, bank accounts, burial contracts, stocks, bonds or life insurance policies.

Š A burial fund is counted as a resource if it is commingled with assets unrelated to a burial. The amount set aside for burial must be in a separate account to be considered excluded from resource consideration.

Š A burial fund may be established if the countable resources of the participant exceed allowable limits. A burial fund is excluded from the resource calculation to the following extent: » The following calculation determines the exclusion for a burial fund: ƒ Exclude up to $1,500 of a burial fund from resources for each of the following: ` The individual ` The individual’s spouse. ƒ Subtract both of the following from the amount each participant may set aside for a burial fund: ` The face value of life insurance policies owned by the individual that have already been excluded from resources. This does not include term life insurance policies that do not generate a cash surrender value. ` The amount in an irrevocable burial trust or any other irrevocable arrangement to cover burial costs, including the face value of burial insurance considered an irrevocable arrangement. Burial costs do not include burial spaces or merchandise. ` If the $1,500 exclusion is applied to the CSV of a whole life insurance policy, and a remaining