Comments on: What is Medicaid Annuity?

By: john bellow

john bellow — Tue, 17 Apr 2012 21:50:14 +0000

it is the most scariest thing trying to get on Medicaid.
i am 81 years old. worked hard all of my life. My savings
will be lost because my wife is in a nursing home at $4,500.00
a month. We don’t have much money and it is scarry to become poor suddenly.
better to commit suiicide.

By: Wisdom Teeth Orem

Wisdom Teeth Orem — Mon, 10 Jan 2011 16:00:19 +0000

I think that if you can live life without depending on the government for support then do it. The rules around Medicaid are complex and ridiculous and honestly I don’t think it will be long before the budget for it will be cut and a lot of people will be left high and dry. Don’t rely on Medicaid.

By: Water meter

Water meter — Fri, 30 Apr 2010 01:46:35 +0000

If the annuity owner has failed to name the State as a beneficiary, the State will treat the purchase as a transfer. T

By: indirlink

indirlink — Sun, 28 Feb 2010 01:00:08 +0000

Our own experience with Medicaid planning, with families that attend our elder care planning workshops, is that there is no intent to take advantage of the system. In almost all cases the family is confronting an immediate need for long-term care and there is usually not enough money to pay for it out of pocket. They are looking for advice on how to get Medicaid to cover that care. Most families using Medicaid planning have very little assets to begin with. Most are simply concerned with keeping the house in the family. Children have seen their parents struggle to preserve and have pride in an asset they can call their own and possibly pass on to children. To be thwarted in trying to preserve the family home because of Medicaid recovery just doesn’t seem right somehow.

By: UGG sale

UGG sale — Sun, 01 Nov 2009 04:45:46 +0000

A Medicaid qualified annuity can play a part in this planning when one spouse has to enter a nursing home leaving the other one

By: Annuities That Help You Qualify for Medicaid | Annuities

Annuities That Help You Qualify for Medicaid | Annuities — Fri, 27 Feb 2009 17:26:53 +0000

[...] of this retirees with significant assets should plan for their potential Medicaid eligibility. A Medicaid qualified annuity can play a part in this planning when one spouse has to enter a nursing home leaving the other one [...]