The bill proposes an amendment to the Code of West Virginia by adding a new section, 9-3-7, which specifically addresses Medicaid eligibility calculations. This new provision stipulates that the first $25,000 of the cash value of a life insurance policy will be exempt from these calculations, thereby allowing individuals to retain a portion of their life insurance assets without affecting their eligibility for Medicaid assistance.

This change aims to provide financial relief to individuals who may otherwise be disqualified from receiving Medicaid benefits due to the cash value of their life insurance policies. By exempting the initial $25,000, the bill seeks to ensure that individuals can maintain some level of financial security while still accessing necessary healthcare services through Medicaid.

Statutes affected:
Introduced Version: 9-5-11
Committee Substitute: 9-3-7