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Medicaid Compliant Annuity Planning for a married couple.
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      Countable IRA Accounts and Medicaid

      9/30/2008 2:15 PM
      Recently in Texas, I worked with an elder law attorney who had a Medicaid case involving a community spouse who had a very large IRA account. With the IRA account being unprotected - a countable resource, and subject to a Medicaid spend-down, I instructed the community spouse to purchase an IRA Medicaid Compliant Annuity ("MCA") with an annual pay-out, rather than a monthly pay-out. In Texas, an MCA with annual pay-out is an acceptable annuitization. When the community spouse received his first ...
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      Medicaid Compliant Annuities - Reinsurance

      9/30/2008 2:14 PM

      In a community spouse case, wherein the community spouse purchases a Medicaid Compliant Annuity ("MCA"), and the MCA is required to be structured with the state Medicaid Program as primary beneficiary to the extent of medical assistance benefits provided to the institutionalized spouse, the community spouse may want to reinsure the MCA with a term life insurance policy - assuming the community spouse is less than 90 years of age and in good health.

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      Veterans Planning and Medicaid Compliant Annuities

      9/26/2008 2:12 PM

      In a case where a veteran resides in an assisted living facility, and is concerned that his or her monthly income is insufficient to meet his or her needs, the veteran may want to consider qualifying for the Veteran's Aid and Attendance Program.

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      Transferring Wealth and Medicaid

      9/24/2008 2:11 PM
      In those cases where a widow or widower has significant wealth, is in good health, and wants to protect his or her assets from a potential long-term nursing home stay, the best course of action is to have the person purchase a Long-Term Care Insurance (“LTCI”) plan (which is better known as 'Nursing Home Insurance").  However with 99% of the available LTCI plans not offering any type of premium refund feature should the insured not utilize the long term care coverage, because of the large a ...
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      Long-Term Care Insurance - How Much Is Enough?

      9/23/2008 2:01 PM
      According to the American Association for Long-Term Care Insurance (“LTCI”), 20% of the elderly require more than five years of long-term care, another 20% require two to five years and 30% require two years or less. Only 31% require no long-term care at all. But discussing this issue with clients can be difficult it is a grim topic, and the problems it addresses aren’t usually an immediate concern. Clients may also have preconceived notions and not realize that current LTCI options include comp ...
      Comments (1) | Visits (1654)