Can Nursing Homes Take Annuities?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    There are some annuities that people take out in order to protect assets when they go on Medicaid. They are commonly called "Medicaid annuities". If set up with expert advice and attention to every detail, this type of annuity may be protected from having to be spent down on nursing home care, if other funds run out. There are challenges, so it is important to talk to a trusted advisor.
    Answered on September 13, 2013
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