The proposed bill, General Assembly Proposed Bill No. 5198, aims to amend current statutes to disregard the value of life insurance policies when determining eligibility for public assistance programs, such as Medicaid. This change is intended to ensure that individuals do not face disqualification from receiving necessary assistance due to the presence of life insurance benefits, thereby promoting greater access to support for those in need. The bill specifies that this disregard of life insurance values will be applied to the extent permissible under federal law, ensuring compliance with existing federal regulations while allowing for a more inclusive approach to eligibility assessments. This legislative change seeks to alleviate financial barriers for individuals seeking public assistance, ultimately supporting their well-being and stability.