IM-152 CASH SURRENDER VALUE (CSV) EXEMPTION FOR THE MO HEALTHNET FOR THE AGED, BLIND, AND DISABLED (MHABD) PROGRAM

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Department of Social Services
Family Support Division
PO Box 2320
Jefferson City, Missouri

TO:  ALL FAMILY SUPPORT OFFICES

FROM:  REGINALD E. McELHANNON, INTERIM DIRECTOR

SUBJECT:  CASH SURRENDER VALUE (CSV) EXEMPTION FOR THE MO HEALTHNET FOR THE AGED, BLIND, AND DISABLED (MHABD) PROGRAM

MANUAL REVISION #110

1030.020.20                            

 

DISCUSSION:

Policy regarding the CSV Exemption has been updated. 

Each participant is allowed a total CSV Exemption of $1,500 on the CSV of pre-need burial contracts, Personal Funeral Trust accounts, life insurance policies, and designated burial funds.

NOTE:  If married, the CSV exemption is applied to each individual’s policies separately.

The CSV Exemption must be applied in the following order:

  1. Irrevocable pre-need burial contracts or irrevocable Personal Funeral Trust accounts
  2. Life insurance cash surrender value
  3. Revocable pre-need burial contracts, revocable Personal Funeral Trust accounts
  4. Designated burial funds

 

NECESSARY ACTION:

  • Review this memorandum with appropriate staff.

 

RM/rr