Medicaid Annuity

By |2013-09-23T16:21:10+00:00September 23rd, 2013|

The process of using an immediate annuity to help protect assets against the high cost of nursing homes and expensive healthcare charges. Since Medicaid won’t pay for people’s nursing home care if they have assets over $2,000, (excluding a house or car), some individuals transfer all of their liquid assets into an irrevocable medicaid annuity. The annuity effectively transfers all of their wealth to a third party insurance company, which guarantees the owner a monthly fixed income for life. In many states, the medicaid annuity can be an attractive alternative to traditional advice of self-impoverishment to qualify for welfare, providing that the annuity contract is irrevocable, actuarially sound, includes equal payments over the lifetime of the annuitant, and does not include a benefactor or balloon payment upon death.

 

  • This field is for validation purposes and should be left unchanged.

Premium gift for you for registering for my newsletter

I am a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money.

Interested in additional information? Register for my FREE bi-monthly newsletter, "Layin' it on the line." It contains information that other people have found beneficial. I will never sell your information.

For registering, I have a Premium Gift for you.

Our 15th edition, “Safe Money Book” a $20 value

77,000 copies in circulation

Learn the basics of a Safe Money approach to investing.

And it is FREE with your "Layin' it on the line" newsletter

About the Author:

Bill Broich
Bill Broich is a well-known annuity expert with over 30 years of experience. He has written hundreds of articles on annuities and other financial topics, and has been a featured commentator on TV, Radio and the Internet.

Toll-Free: (360) 701-6209 | GVA, Annuity.com | Email: bbroich@msn.com