Planning for Life

Court Rules MassHealth Must Return Annuity Payments

Posted by Harry S. Margolis on February 4, 2020

By Harry S. Margolis

Annuity - MassHealth -Margolis-and-Bloom-Wellesley-MA

A common MassHealth planning technique for spouses of nursing home residents to protect assets is to purchase a qualifying annuity to shelter their assets above the spousal asset limit of approximately $130,000. (Read our legal guide Using Annuities for MassHealth Planning for Nursing Home Residents.) In order for such purchases not to be treated as a disqualifying, transfer it must be "actuarially sound" and it must name the Commonwealth as the remainder beneficiary "for at least the total amount of medical assistance, paid on behalf of the institutionalized individual."

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Topics: MassHealth planning, MassHealth, annuities

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