Medicaid-compliant annuities (MCAs) can be an important tool for planning financially when facing the difficult task of caring for a loved one’s health needs. These specialized annuities are single premium immediate annuities (SPIAs) that are modified to meet the strict requirements of Medicaid and may allow individuals to qualify for long-term care benefits while protecting assets for a spouse or beneficiary.
To qualify for Medicaid, a Federal program administered by each state, the applicant must meet stringent income and asset requirements. These requirements may be complicated, are state-specific, and require a detailed application process to qualify. We highly recommend consulting with an elder law attorney with experience in those situations before and during the Medicaid application and planning process.
Our Medicaid compliant annuity:
- Is available for issues ages 0-100
- Can be funded with qualified or non-qualified funds
- Can be issued with a distribution term of 2 to 360 months
