Why Medicaid?
A Medicaid Compliant Annuity is designed to convert your client’s excess countable resources into income,
allowing them to obtain financial assistance for long-term care through the Medicaid program.
About Medicaid
Medicaid is the largest payer of long-term care in the U.S., covering almost 50% of care costs across the country. To qualify, applicants must meet certain financial limits; be age 65 or older, blind, or disabled; and reside in a Medicaid-approved facility, like a nursing home. Once eligible, Medicaid covers room and board, pharmacy, and incidentals for long-term care.
In short, this program is designed to help individuals gain financial assistance for long-term care. Contrary to popular belief, your clients do not need to exhaust their assets to become eligible. The Medicaid Compliant Annuity allows them to preserve their savings for a spouse or the next generation while still gaining much-needed financial relief from the nursing home.
Busting Medicaid Myths
Despite common misconceptions, Medicaid can be a powerful planning tool for your clients, providing essential relief from the high cost of long-term care. Many believe it’s only for those with no assets or requires a complete spend-down, but that’s not the case. With the right strategies, clients can preserve what they have left while still qualifying for financial assistance. Let’s break down and debunk some of the biggest myths about Medicaid.
Discover More About Medicaid Compliant Annuities
Download our MCA quick guide to learn more about the Medicaid program, its requirements, and how it can help clients who currently need long-term care.
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