If anyone has any questions on "Medicaid-Compliant" Annuities, please feel free to call my office. In my opinion, these annuities are an outstanding vehicle for asset protection, especially for a married couple. However, there is a lot of misinformation about what can and cannot be done with these annuities and how they work within the framework of an application for Medicaid vendor nursing care benefits with the Missouri Family Support Division.
Please understand that while a financial advisor may understand the product itself, he or she does not understand how the annuity works within the context of an application for Medicaid benefits. Consequently, it is very important to discuss these products with an elder law attorney that is familiar with the Missouri Medicaid system and with how it treats these products.