S.2150 - A bill to amend title XVI of the Social Security Act to clarify that the value of certain funeral and burial arrangements are not to be considered available resources under the supplemental security income program.112th Congress (2011-2012)
|Sponsor:||Sen. Snowe, Olympia J. [R-ME] (Introduced 03/01/2012)|
|Committees:||Senate - Finance|
|Latest Action:||03/01/2012 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
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Summary: S.2150 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in Senate (03/01/2012)
Amends title XVI (Supplemental Security Income) (SSI) of the Social Security Act to provide that the value of certain prepaid funeral and burial arrangements involving an irrevocable trust whose named beneficiary is the funeral provider are not to be considered, under the SSI program, as resources available to the individual.
Includes among such arrangements a life insurance policy irrevocably assigning benefits covering funeral goods and services to: (1) a funeral provider, or (2) an irrevocable trust fully funding such goods and services and naming the funeral provider as the trust beneficiary.