It seems as if the issue of the use of annuities in Medicaid planning may finally be put to rest. The Third Circuit Court of Appeals rules that Medicaid applicants’ short-term annuities are not resources even though the terms were less than the annuitants’ life expectancies. Zahner v. Secretary Pennsylvania Dept. of Human Services (3rd Cir., Nos. 14-1328, 14-1406, Sept. 2, 2015). This is a very positive ruling for applicants seeking to preserve assets when filing a Medicaid application is imminent. Contact elder law attorney Charles Bratton for more information if you are seeking to protect assets from potential long term care costs.
To read the full article on this decision click here https://attorney.elderlawanswers.com/short-term-annuities-are-not-resources-for-medicaid-eligibility-purposes-15302