Commonly Asked Questions and Answers
Why should I preplan my funeral?
By preplanning your funeral, you can:
- Provide your loved ones peace of mind knowing that they won’t be burdened with making these decisions for you.
- Eliminate emotional overspending that can occur from grief or guilt when your loved ones are left to make these decisions.
- Allows you to influence all aspects of your services that are important to you. It’s your funeral – it should celebrate your life, your way.
How much do funerals cost?
According to the National Funeral Directors Association, the average cost of a funeral is over $8,000. This cost includes a casket and vault, but it does not include cemetery costs or any other cash items that are not usually purchased through the funeral home. Funeral costs vary greatly depending upon the type of arrangements, type of casket and other products and services you may choose.
What is Medicaid and how does it relate to preplanning?
Medicaid is a program jointly funded by states and the federal government. Medicaid reimburses medical care providers, including nursing homes for qualified low-income individuals who are age 65 or older, blind or disabled. Because Medicaid eligibility is based on need, a person is not eligible to receive benefits if they have income or assets that exceed the limits established by each state or county. If someone’s assets are more than the state allows, he or she will have to liquidate their assets before they will receive aid from the program. One of the ways you can protect your assets from being considered a liability against Medicaid approval is to prepay your funeral. By preplanning and prefunding your funeral arrangements with the appropriate funding vehicle, you can reduce your net assets for eligibility in the Medicaid program. If your prearrangement is irrevocable, the funds used to prepay will not be considered a personal asset.
What options are available to prepay my funeral?
There are several options for prepaying your funeral expenses, each with advantages and disadvantages.
What if I move?
Your prearrangement funding is transferable to any funeral home depending on individual state laws.
Who can I contact for more information?
Contact Gold Cross Funeral Plans today for:
- More information about preplanning and prefunding
- Access to our network of funeral homes
- Additional preplanning resources
Call 800-755-3941, Monday – Thursday from 8:30 a.m. to 5 p.m. Friday from 8:30 a.m. to 4:30 p.m. or contact us online.