What Are Medicaid Annuities?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Medicaid annuities are single premium annuities that are set up when faced with the prospect of needing Medicaid assistance for nursing home or other long term care. If set up perfectly, they can shield some of the assets of the person going on Medicaid, rather than have those funds go to paying for the long term care. They are being challenged by both federal and state courts, so it is important to contact an expert in Medicaid annuities if interested in them.
    Answered on September 18, 2013
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