The need for advisors who can provide Medicaid planning continues to grow as millions of Americans turn sixty-five every year. Thorough Medicaid planning is critical because improper planning can prevent a client from qualifying for Medicaid for up to five years, creating a potential penalty of $360,000. Medicaid-compliant annuities are one option clients have to shift assets without penalty to help qualify for Medicaid. These annuities are irrevocable, non-commutable, non-assignable, and actuarially sound.
To learn more about Medicaid-compliant annuities, see Roccy DeFrancesco, Medicaid Planning: The Role of Medicaid-Compliant Annuities, Producer’s Web, Oct. 31, 2011.
Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.
