Kiplinger: Medicaid Annuities Help Protect Savings

Couple looking at their finances

Disclaimer: With Medicaid, VA, and insurance regulations frequently changing, past blog posts may not be presently accurate or relevant. Please contact our office for information on current planning strategies, tips, and how-to's.

Picture this: Your spouse has made a permanent move to a nursing home. You don’t have long-term-care insuranceMedicare won’t cover the cost, and you have too much money to qualify for Medicaid—but not nearly enough to afford the nursing-home bills. The monthly tab—easily $5,000 to $8,000 for a semi-private room—is rapidly depleting your nest egg. Now what?