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Medicaid's Treatment of IRA Annuities

In most states retirement accounts and retirement annuities are treated differently for Medicaid purposes.  A retirement account will traditionally be considered under the retirement asset rules, and...

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Another Victory for Medicaid Compliant Annuity Income Provided to Community...

North Dakota is amongst a handful of states that impose the annuity legislation outlined in the Deficit Reduction Act of 2005 ("DRA") as well as their own added annuity requirements.  In addition to...

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Medicaid Compliant Annuity Payouts: Life Only, Period Certain, or Life and...

When investing in an annuity providing immediate payments an applicant can usually select one of three different payout options:Life-Only Payout:  Payments continue as long as the owner/annuitant...

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The New VA Annuity: Veterans Benefits Planning with Unmatched Flexibility

One of the largest obstacles in Veterans Benefits planning can be taking future Medicaid benefits into consideration - planning for the unknown.  When using annuities, many attorneys use a Medicaid...

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Changes to the Partnership for Long-Term Care Insurance Program

The primary advantage of purchasing a partnership long-term care insurance ("LTCI") policy is that if the insured exhausts all of his or her available coverage, he or she can apply for Medicaid...

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Yet Another Victory for Community Spouse Medicaid Compliant Annuity Planning

On March 26, 2008, Leroy and Glenda Morris requested that a resource assessment be conducted for Medicaid eligibility purposes.  The Morrises' countable resources were found to be $107,812.  After...

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Elder Law Attorneys Blogging on Annuities

Annuities are investment vehicles that have been around for ages.  Most people have at the very least a basic understanding of what annuities are.  However, due to the detailed nature of Medicaid...

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Last But Not Least - California and DRA

The California Department of Health Care Services ("DHCS") recently released drafts of the proposed Deficit Reduction Act of 2005 ("DRA") asset eligibility regulation package, including the proposed...

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What if Your Client comes to you with a "Bad" Annuity?

With annuities being one of the most popular investment vehicles available, it shouldn't be a surprise when a client drops off a mountain of financial documentation and you happen to find an annuity...

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15 Things You Might Not Know About Medicaid Compliant Annuities

1.  Dale Krause was essentially the creator of the Medicaid Compliant Annuity.Once upon a time in a land far, far away, Dale Krause worked with insurance companies to create the product he needed....

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Do You Find Annuities Confusing?

 You're not alone.  If you're not an insurance agent annuities can be confusing.  I'm frequently asked questions regarding the difference of annuities, and how the difference kinds are treated for...

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Planning for an Individual with No Longevity

 The goal in planning for an institutionalized individual with diminished longevity is to allow the individual to immediately qualify for Medicaid, while reducing the reimbursement claim to the...

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Name on the Check Rule Annuity Win: Jackson v. Selig

 In May of 2008 Mr. Jackson entered an Arkansas nursing home while his wife, Mrs. Jackson, continued to reside in the community.  In February of 2009 Mr. Jackson purchased two single premium immediate...

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New Ruling that State Doesn't Need to be Annuity Beneficiary

 In the matter of Cook v. Bottesch (Ga. Ct. App., Nos. A13A0006, A12A2268, A12A2269, A12A2506, March 26, 2013) a Georgia court of appeals held that an annuity purchased by an applicant for Medicaid did...

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State Takes Issue with Standard Annuity Policy Language

 In the matter of Carlini v. Velez (U.S. Dist. Ct., D.N.J., No. 12-7290 (JEI/KMW), June 4, 2013), the Burlington County Welfare Agency ("CWA") of New Jersey took issue with a standard set of language...

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What Happens if You Exceed Resource Limits During a Penalty Period?

 My office receives no shortage in calls from attorneys and agents whose clients received an inheritance or had a home sale in the midst of a Gifting/Medicaid Compliant Annuity plan (also referred to...

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Personal Injury Settlement Gone Wrong

 In the matter of Sams v. Department of Public Welfare (Pa. Commw. Ct., No. 2245, C.D. 2012, Aug. 21, 2013), an improperly structured settlement from a personal injury lawsuit ended up costing a...

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Geston v. Anderson: Eighth Circuit Medicaid Annuity Win

 In the recent matter of Geston v. Anderson, the U.S. Court of Appeals for the Eighth Circuit has affirmed a judgment in a North Dakota married couple case on calculating assets for Medicaid...

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