Florida Senate - 2013                        COMMITTEE AMENDMENT
       Bill No. SB 1046
                                Barcode 267252                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  04/02/2013           .                                

       The Committee on Banking and Insurance (Montford) recommended
       the following:
    1         Senate Amendment to Amendment (457546) (with title
    2  amendment)
    4         Before line 214
    5  insert:
    6         Section 4. Section 409.9022, Florida Statutes, is created
    7  to read:
    8         409.9022Medicaid eligibility; burial expense exemption.—
    9         (1) Notwithstanding any other provision of law, the
   10  department, in determining an applicant’s eligibility for
   11  Medicaid, shall exempt the value of a life insurance policy,
   12  annuity, or group certificate if:
   13         (a) The life insurance policy, annuity, or group
   14  certificate:
   15         1. Is issued pursuant to part IV of chapter 497 to fund an
   16  irrevocable preneed contract;
   17         2. Is irrevocably designated to pay the owner’s final
   18  burial expenses and has a face amount that does not exceed the
   19  limits established under s. 626.785(3); or
   20         3. Includes terms that preclude the use of its proceeds for
   21  anything other than the payment of the owner’s final burial
   22  expense and has a face amount that does not exceed the limits
   23  established under s. 626.785(3); and
   24         (b) The owner of such policy, annuity, or group
   25  certificate:
   26         1. Has named the state as the irrevocable beneficiary such
   27  that any proceeds of the life insurance policy, annuity, or
   28  group certificate which exceed the owner’s final burial expenses
   29  shall be remitted to the state up to the amount of Medicaid
   30  benefits provided; and
   31         2.Is provided with an opportunity to name a contingent
   32  beneficiary if the proceeds from the policy exceed the cost of
   33  the owner’s final burial expenses and the amount of Medicaid
   34  benefits provided to the owner.
   35         (2) The department may adopt rules to administer this
   36  section.
   38  ================= T I T L E  A M E N D M E N T ================
   39         And the title is amended as follows:
   40         Delete line 1505
   41  and insert:
   42         registering a motor vehicle; creating s. 409.9022,
   43         F.S.; exempting the value of a Medicaid applicant’s
   44         life insurance policy, annuity, or group certificate
   45         from the determination of the applicant’s Medicaid
   46         eligibility under certain circumstances; authorizing
   47         the Department of Children and Families to adopt
   48         rules; amending s. 554.1021,