Medicaid-Qualifying Annuity

Medicaid-Qualifying Annuity

Definition

An annuity that meets specific requirements (e.g., being actuarially sound, irrevocable, nontransferable, and paid out in equal amounts) for being considered a community spouse’s separate income and, therefore, that does not count toward an institutionalized spouse’s Medicaid asset limit. Also known as a Medicaid-compliant annuity.

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