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A Legend of Medicaid Compliant Annuities Shares a Strategy for Couples

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"Well, I started out as an estate planning attorney and I recognized very quickly that Medicaid compliant annuities would be a great option for many clients. And, so in the process of exploring Medicaid and some of its advantages, I developed some of the first annuities used in the practice."

- Dale Krause

Welcome to The Insurance Experts, a weekly spot for planning stories and strategies that matter to you. Need help with long term care planning? Learn about LTC on our free consumer webinars. Schedule a meeting here to learn more.

On today’s episode of The Insurance Experts, I interview Dale Krause who is an expert in Medicaid planning. Dale began his career years ago as an estate planning attorney, saw the need in the market for insurance solutions that coordinated with Medicaid rules, and has been an expert in developing and using these Medicaid planning solutions ever since.

Dale and I discuss a Medicaid Compliant Annuity strategy for couples where one spouse is healthy and the other spouse needs care in a nursing home. By having the healthy spouse purchase an annuity that qualifies as Medicaid compliant, she can accelerate the spend down process, and allow her husband to qualify for Medicaid to pay for the nursing home costs.

Watch the video as we discuss a case study of how the value of this planning strategy works and what makes an annuity Medicaid compliant in the first place.

The rules for these types of situations are complex, state specific, and different strategies can be employed for different client situations, so it is important to work with an attorney that is expert in this area and an insurance pro that is well-versed in the solutions.

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