Medicaid Claims: If Client were to predecease his/her Medicaid Compliant Annuity, the state Medicaid program would not be entitled to any residual benefits in that the Medicaid program did not provide any medical assistance benefits to Client. Client’s intended heirs would receive the benefits.
As required by the Deficit Reduction Act of 2005, the annuity:
- Is Irrevocable and non-assignable.
- Is actuarially sound.
- Provides for equal payments, with no deferral and no balloon payments.
- Designates the State Medicaid Agency as the primary beneficiary.