I find it depends on how hard the hook bait is. With luncheon meat, I bury the hook as I know it will pull put on the strike as the meat is soft. With sweetcorn though, I don't mask the hook point as I'm wary that the hook won't pull through the skin.
this really depends on where you fish, swim condition, target species and what the fish are feeding like on the day.
If you're after fish in a swim which has snags and you want the bait to trot or trundle through then bury the whole hook in the bait.
If you are legering and the bait will be stationery or float fishing either laying on, overdepth or up in the water (anything other that dead depth) then you can leave the point exposed.
I would rather leave the point showing in order to increase the chance of a good hookhold, it's all really down to the conditions on the day, many people (including myself when possible) use a hair rig leaving the whole hook free to do it's job.
push the lump of meat through the hook and twist leaves the hook pointing slightly out, have you tried hair rigging get a used bic inner thread this onto a hair push the meat through just enough to get it out a bit further
Although I am just getting back into the sport, I have found that if you push the hook through the meat, place a small piece of grass in the bend of the hook and pull it gently back into the bait, it increases the chance of it staying on the hook.
Hope this helps.