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Does it make sense for one client to purchase multiple Medicaid Compliant Annuities?

Amber Hinds

Does it make sense for one client to purchase multiple Medicaid Compliant Annuities?

Sometimes! There are a couple of scenarios when it is advantageous for a client to purchase more than one Medicaid Compliant Annuity...

Amber Hinds

Gifting Plans in Income Cap States

When planning for an individual client (no spouse), it is common to implement a Gifting & Annuity Plan wherein the Medicaid applicant...

Why Purchase an Annuity if the State Medicaid Agency is required to be the beneficiary?

Amber Hinds

Why Purchase an Annuity if the State Medicaid Agency is required to be the beneficiary?

One of the requirements of the Deficit Reduction Act of 2005 (“DRA”) was that the State Medicaid agency must be listed as a remainder...

Amber Hinds

What does “Actuarially Sound” Mean?

In a recent blog post, we explained what a Medicaid Compliant Annuity is. To summarize, in order for an annuity to be “Medicaid...

Amber Hinds

A.M. Best Ratings

When purchasing a Medicaid Compliant Annuity, we often reference the insurance company’s A.M. Best Rating. A.M. Best is an American...

What Type of Assets Can be Used to Purchase a Medicaid Compliant Annuity (MCA)?

Amber Hinds

What Type of Assets Can be Used to Purchase a Medicaid Compliant Annuity (MCA)?

ANY! If your clients have money in checking accounts, savings accounts, CDs, brokerage accounts, stocks, bonds, whole life insurance...

Amber Hinds

Medicaid and Medicaid Planning Defined

Medicaid is the largest payer of long-term care expenses. With long-term care expenses continuing to rise, it is important to understand...

Medicaid Planning and Qualified Accounts

Amber Hinds

Medicaid Planning and Qualified Accounts

Medicaid Planning with retirement/pre-tax IRA accounts can be confusing, especially because each state treats these accounts a little...

Gifting & Medicaid Compliant Annuity Planning for an Individual Client

Amber Hinds

Gifting & Medicaid Compliant Annuity Planning for an Individual Client

When implementing a Gifting & Medicaid Compliant Annuity (MCA) Plan for an individual client (no spouse), the goal is to maximize the...

Deficit Reduction Act outlines Different Rules for Retirement Annuities vs. Non-Retirement Annuities

Amber Hinds

Deficit Reduction Act outlines Different Rules for Retirement Annuities vs. Non-Retirement Annuities

A Medicaid Compliant Annuity (“MCA”) is an immediate annuity that converts excess countable resources into an income stream (i.e. a MCA...

Purchasing a Medicaid Compliant Annuity Pre-Snapshot vs. Post Snapshot

Amber Hinds

Purchasing a Medicaid Compliant Annuity Pre-Snapshot vs. Post Snapshot

When planning for a married couple in a state that has a minimum and maximum Community Spouse Resource Allowance (CSRA), the timing of...

Amber Hinds

Name on The Check Beneficiary Example

Thomas and Barbara Smith are married. Barbara is the owner of an IRA valued at $100,000 and she is the spouse that is in need of care. ...

Medicaid Annuity Beneficiary Designations

Amber Hinds

Medicaid Annuity Beneficiary Designations

Most elder law attorneys are familiar with the fact that the Deficit Reduction Act of 2005 outlined specific requirements for annuities...

New Jersey Medicaid Updates Penalty Divisor, Effective April 1, 2020

Amber Hinds

New Jersey Medicaid Updates Penalty Divisor, Effective April 1, 2020

New Jersey Medicaid recently released Medicaid Communication NO. 20-05 updating the Penalty Divisor to $357.67 per day as of April 1,...

Monthly Maintenance Needs Allowance (MMNA): What Does it Mean and How do Calculate it?

Amber Hinds

Monthly Maintenance Needs Allowance (MMNA): What Does it Mean and How do Calculate it?

In our previous blog post, we discussed how to calculate the Community Spouse’s Resource Allowance when dealing with a married couple...

How to Calculate the Community Spouse Resource Allowance (CSRA)

Amber Hinds

How to Calculate the Community Spouse Resource Allowance (CSRA)

When working with a married couple wherein one spouse is applying for Medicaid and the other spouse resides at home, we typically refer...

Medicaid: Countable Assets vs. Non-Countable Assets

Amber Hinds

Medicaid: Countable Assets vs. Non-Countable Assets

Medicaid is a means-tested, federal-state health insurance program for low income and needy people. As with any means-tested government...

Amber Hinds

What is Name on The Check Rule?

For Medicaid planning purposes, income is attributed to the person whose “name is on the check”. If two names are on the check, income...

Planning Options for the Medicaid Applicant/Institutionalized Spouse’s Qualified Retirement Account

Amber Hinds

Planning Options for the Medicaid Applicant/Institutionalized Spouse’s Qualified Retirement Account

When implementing Medicaid planning for a married couple, typically one spouse is in a facility and the other spouse remains at home or...

Factors to Take into Consideration When Determining How Long to Structure A Community Spouse's MCA

Amber Hinds

Factors to Take into Consideration When Determining How Long to Structure A Community Spouse's MCA

In a married couple situation when one spouse is applying for Medicaid benefits and the other spouse remains at home in the community,...

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AshBer | Professional Insurance Solution Services

AshBer | Professional Insurance Solution Services Available in The USA