A Federal court has ruled that an immediate annuity is not considered an asset for Medicaid qualification purposes. - Dave Wingate, Senior Life Care Planning
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A Federal court has ruled that an immediate annuity is not considered an asset for Medicaid qualification purposes. - Dave Wingate, Senior Life Care Planning
The decision applies to annuities, which are irrevocable and nontransferable. In Lopes v. Starkowski [No. 3:lO-CV-307 (JCH)], the United Stated District Court in Connecticut ruled that the income stream from an unassignable immediate annuity is not an asset for Medicaid eligibility. As precedent, it cites a Third Circuit opinion --James...
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Tags: Senior Health, Health Insurance, Medicaid
Most Recently Shared on November 23, 2010 at 5:05 pm By:
A Federal court has ruled that an immediate annuity is not considered an asset for Medicaid qualification purposes. http://bit.ly/iaI927
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