AN ACT DISREGARDING THE VALUE OF LIFE INSURANCE BENEFITS IN ELIGIBILITY DETERMINATIONS FOR PUBLIC ASSISTANCE PROGRAMS.

HB 5198 would change state rules so that life insurance policy values are no longer counted when determining eligibility for public assistance programs like Medicaid. This directly affects individuals applying for or receiving state-funded benefits who own life insurance policies. The bill's key provision removes life insurance assets from the calculation of financial eligibility, meaning these policies won't disqualify applicants. The change applies only to state-administered programs and must comply with existing federal law.