Budget Amendment ID: FY2027-S4-539

EHS 539

Asset Update for MassHealth Seniors

Mr. DiDomenico moved that the proposed new text be amended in section 2, by inserting after section ___ the following section: -

"SECTION ___. Section 25 of chapter 118E of the General Laws is hereby amended by inserting after subsection (5) the following:

(6)  resources in the amount of $5,000 per individual and $7,500 per couple;

(7) the cash surrender value of life insurance policies owned by the applicant or member, up to $10,000 per individual, without regard to the face value of such policies.

(8) these amounts shall be adjusted annually for inflation based on the US Department of Labor’s Consumer Price Index or CPI for All Urban Consumers.

The division shall submit a state plan amendment to implement this section no later than 30 days after the effective date of this section and subsequently promulgate all regulations necessary to implement said income and resource exemptions.”