Tag: annuities for medicaid planning

Ohio Medicaid Has Changed Treatment of Annuities

Previously, the purchase of an Annuity by a married couple after the date the spouse needing long term care entered a nursing home, hospital or other institution but before the Medicaid eligibility determination date, was treated as an improper transfer if the purchase price was above the amount permitted to be kept by the healthy spouse. New Medicaid rules allow for the purchase of an annuity above the amount customarily permitted to be kept by the healthy spouse during this window of time, as long as it meets Ohio Medicaid Annuity requirements.

Annuities can be a wonderful Medicaid planning… Read the rest