Community Spouse Resource Allowances for 2017

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The cost of care in a nursing home can devastate the lifetime savings of a married couple. In recognition of this problem Congress passed a law in 1988 which was intended to limit the “spousal impoverishment” that can result when one spouse becomes a nursing home resident. Under this Medicaid law, minimum amounts of financial […]

Spousal Impoverishment Allowances for 2016

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The cost of care in a nursing home can devastate the lifetime savings of elderly couples. In 1988, Congress passed a law intended to prevent the “spousal impoverishment” that can result when one spouse becomes a nursing home resident. Under this Medicaid law, minimum amounts of resources and income are protected for a spouse who […]

Medicaid Annuity Case Clarifies Remainder Beneficiary Rules

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Annuities have become a vital planning tool to protect a married couple’s savings from the costs of long-term care. Federal Medicaid law authorizes the use of specialized annuities to gain immediate eligibility for Medicaid long-term care benefits provided the annuity complies with the provisions of the law. In effect, people with too many resources to […]

Sams case a red flag for use of annuities in structured settlements

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A recent Pennsylvania case raises a flag of warning for personal injury attorneys who use annuities in structured settlements. Personal injury, products liability, and workmen’s compensation cases are frequently settled in return for an annuity that provides long term periodic payments to the injured party. Structured settlements are a well recognized method of providing income […]