Annuities And Medicaid Eligibility

Important Facts For State Policymakers Deficit Reduction Act
To gain Medicaid eligibility and receive long-term care services. Background the DRA changed the treatment of annuities. As a condition of eligibility for coverage of long-term care services, Medicaid applicants are now required to . ... Return Document

MEDICAID PLANNING
Medicaid’s Treatment of Annuities An annuity is a right to receive periodic payments either for life or for a specific number or term of years. For married couples planning for Medicaid eligibility, a reverse mortgage on the couple’s ... Document Retrieval

STATE OF NEW YORK
A. ASSET TRANSFER CHANGES AND ANNUITIES 3 B. HOME EQUITY AND CONTINUING CARE RETIREMENT COMMUNITY CONTRACTS 4 III. condition of Medicaid eligibility for nursing facility services, that the A/R disclose a description of any ... Retrieve Doc

Courts Look At annuities & Medicaid eligibility
E lder law attorneys around the country are care-fully watching recent case law developments restricting Medicaid-driven use of annuities. Since The Omnibus Budget Reconciliation Act of 1993, ... Visit Document

Links To State Medicaid Program Websites - Medicaid Annuities ...
Links to State Medicaid Program Websites - Medicaid Annuities - Medicaid Compliant Annuity Solutions in California Mississippi http://www.medicaid.ms.gov/Eligibility.aspx Missouri http://www.dss.mo.gov/mhd/index.htm ... Get Doc

RE: Indiana A&A / Medicaid Planning Mr. Sylvester Smith
Annuities Medicaid/Medi-Cal Life Insurance 6.26 years or 75.12 months. Medicaid/Medi-Cal Endowment Life Insurance Long Term Care AID & ATTENDANCE ELIGIBILITY With the aforementioned Medicaid Compliant Annuity in place, Mr. Smith will indefi- ... Fetch Full Source

Condition for Medicaid eligibility for LA-D COAs: • Nursing facility services (NH and institutional hospice); sound for annuities purchased prior to 2/8/06 or Steps 2 – 8 for DRA ’05 annuities: Determine the date on which the annuity was purchased. ... Retrieve Here

A Guide To Medicaid Annuities For Pennsylvania Lawyers
Medicaid Annuities For Pennsylvania Lawyers Jeffrey A. Marshall, CELA* Matthew J. Parker, CELA* use of specialized annuities to gain immediate eligibility for Medicaid provided the annuity complies with the provisions of the law. ... Visit Document

The Medicaid Planning Guidebook Table Of Contents
The Medicaid Planning Guidebook Table of Contents Section 1 Medicaid Planning Primer Medicaid Eligibility Planning: Single Premium Immediate Annuities (SPIA) .. 32 8. Funeral/Burial Plans ... Access Full Source

The Use Of Annuities In Michigan Medicaid Planning
Medicaid Compliant Annuities. Two Basic Types of Annuities • Tax-Deferred Annuity – Not a Medicaid planning tool • Result: Immediate Medicaid eligibility, co-pay April 2009: $0.00, May 2009: $1,140.00. Co-Pay Calculation April 2009 ... Read Full Source

Medicaid Planning and Medicaid Compliant Annuities
Medicaid Compliant Annuities. Two Basic Types of Annuities • Tax-Deferred Annuity – Not a Medicaid planning tool • Result: Immediate Medicaid eligibility, co-pay April 2009: $0.00, May 2009: $1,140.00. Co-Pay Calculation April 2009 ... Read Here

MEDICAID CHANGES AND CHALLENGES AFTER THE DEFICIT REDUCTION ...
Annuities purchased by the Medicaid applicant/recipient or the community spouse prior to January 1, 2006; 2. period for an asset transfer if the denial of Medicaid eligibility would result in undue hardship. 2. ... Access Content

DEPARTMENT POLICY MA Only
Annuities to the Medicaid Eligibility Policy Section for evaluation. This does not apply to the following: • Prepaid funeral contracts. • Life insurance funded funerals. • Healthy Kids categories (PEM 125, 129, 131). • Group 2 Pregnant Women (PEM 126). ... Access Full Source

NEW JERSEY MEDICAID PROGRAM ELIGIBILITY
Stocks, bonds, certificates of deposit, annuities, and cash surrender value of life insurance which exceeds $1,500 in face value. Excludable resources include, but are not limited to, a home which serves as the Medicaid Eligibility Page 3 In addition, ... Fetch Doc

Brian Schweitzer Anna Whiting Sorrell GOVERNOR STATE OF MONTANA
Most annuities count as resources in determining Medicaid eligibility. What annuities do not ‘count’ as resources in determining Medicaid eligibility? In order to be excluded as a resource, an annuity must meet all of the following criteria: ... View This Document

Need - SSI-Related Resources
Louisiana Medicaid Eligibility Manual Need - SSI-Related Resources Treatment of Annuities in Determining Eligibility . The following types of annuities are not treated as a transfer of assets if the annuity meets the following conditions ... Access Doc

MISSISSIPPI DIVISION OF MEDICAID
MISSISSIPPI DIVISION OF MEDICAID Eligibility Policy and Procedures Manual CHAPTER 300 - Resources Page |3321 Effective Month: May 2010 304.01.04A TREATMENT OF ANNUITIES PURCHASED PRIOR TO 2/8/2006 ... Access Document

American General Life Companies October 8, 2009 Bulletin 09 ...
Medicaid and Medicaid Qualifying Annuities (SPIAs) and eligibility for Medicaid were treated in relation to the rules for transfer of assets. Since that time, we have noted that specific requests to amend annuity contracts to make them “Medicaid-friendly” have continued. ... Retrieve Full Source