Annuities and Medicaid Eligibility

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Annuities and Medicaid Eligibility


The Issue:
Eligibility for Medicaid requires the applicant have resources of a minimum level. Often, applicants have spouses or other family members who are dependent upon the income derived from the applicant's asses. If the applicant 'spends-down', the dependent will be at risk. Alternatively, the applicant's assets may be held in an IRA or similar deferred products; transfers of these assets may result in large tax obligations.

A Solution:
Annuities that meet Medicaid's guidelines are now available. Converting resources to a stream of income permits access to the Medicaid program, while providing income, up to certain levels, for your spouse. Depending upon the option selected, upon death, this income source may continue for your spouse of become available to your beneficiaries.

How to Proceed:
Call LTC America, LLC to discuss your particular situation. We will work with your attorney to formulate the best possible plan for you*.
*In NYS annuities are not part of your probate estate and therefore not subject to recovery by medicaid. Thi smay be subject to change.

For more info on annuities or if you have other questions, please call us at 631-393-5039 or email us at info@ltcamerica.com.