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      Just Say "No" in Contrast to a Medicaid Compliant Annuity

      2/16/2010 2:43 PM
      In the recent case of In The Matter of Leon Schneider (N.Y. App. Div., 2 Dept., 2010 NY Slip Op 00971, Feb. 9, 2010), a New York appeals court ruled that the estate of Mr. Schneider must repay the state for the amount of Medicaid benefits provided on behalf of his wife, but only up to the amount of countable resources that he possessed above his community spouse resource allowance ("CSRA"), and by the amount that his monthly income exceeded his monthly maintenance needs allowance ("MMNA"). ...
      Comments (0) | Visits (1045)

      The Need for Long-Term Care Insurance

      2/11/2010 12:35 PM
      Most of us will live a long life.  However, if we live too long, our bodies are likely to wear-out, creating the high probability that long-term care will be needed.  When such care is required, the consequences can be devastating to families, especially if it continues for many years.  Presently, there is not a government entitlement program - Medicare, Medicaid, and Veterans Administration that will pay all the costs, especially if our intent is to remain at home.  In suc ...
      Comments (1) | Visits (688)

      Wisconsin Medicaid Compliant Annuity vs. J.G. Wentworth

      2/9/2010 2:02 PM
      In January of 2009, I worked with a Wisconsin elder law attorney who had a Medicaid case involving a husband and wife.  In order to eliminate the spend-down amount, Ithe community spouse purchased a Medicaid Compliant Annuity from Employees Life Company (Mutual).  With the spend-down amount eliminated, a Medicaid application was submitted.  The application was supplemented with three refusal letters, from companies that stated that they could not purchase the Medicaid Comp ...
      Comments (0) | Visits (1412)

      How Would My Client Use a 3 Month Medicaid Compliant Annuity?!

      2/4/2010 3:11 PM
      With Krause Financial Services able to provide commercial Medicaid Compliant Annuities as short as 2 months, you may be asking yourself "How would my client EVER use such a tool?!"  Such a short-term Medicaid Compliant Annuity is most often used in conjunction with a Gifting Plan, more commonly referred to as the Half-a-Loaf approach. The goal of a Half-a-Loaf Plan is to allow the nursing home resident to give away approximately one-half of his or her spend-down amount, while retaining t ...
      Comments (11) | Visits (2227)