Does Medicaid Count Annuities?

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   Peggy Mace

   Most of the U.S.

   This is a timely question, as a federal court just upheld on 9/10/13 the exemption of a "Medicaid Annuity" in North Dakota that was purchased to protect $400,000 of assets and speed up eligibility for Medicaid benefits. The state counted the annuity as an asset to be spent down, while federal law exempted it. The State of North Dakota is reviewing the decision and their response to it. 
   
   Suffice it to say, a Medicaid Annuity must be set up precisely and correctly to survive the battle to get at those funds. You will want to involve an experienced life insurance agent and an experienced lawyer in this type of transaction.

   Answered on September 12, 2013

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