Medicaid Compliant Annuities in New Jersey - Christine Matus

From Matus Law Group – Medicaid Compliant Annuities in New Jersey explores how structured financial planning tools can help residents qualify for Medicaid while preserving their assets. This episode dives into the essential role Medicaid Compliant Annuities (MCAs) play in protecting savings for individuals and families navigating the high costs of long-term care in New Jersey.

Listeners will learn what makes an annuity Medicaid compliant under both the Social Security Act and New Jersey Medicaid regulations. We break down the specific legal requirements—such as irrevocability, non-assignability, actuarial soundness, and the necessity of naming the State of New Jersey as the primary beneficiary after a spouse or minor child. The episode also explains how these annuities are immune from Medicaid’s strict five-year Look-Back Rule, offering a powerful strategy to convert countable assets into a protected income stream.

We’ll also discuss how Medicaid Compliant Annuities differ from traditional annuities, focusing on the limitations and structures that make them uniquely suitable for Medicaid planning. From helping a community spouse maintain financial independence to ensuring steady income during retirement or a medical crisis, MCAs are a lifeline for families facing rising nursing home costs—often exceeding $10,000 per month in New Jersey.

Finally, we highlight when to consider establishing an MCA—whether after a chronic illness diagnosis, admission to a care facility, or major life events like retirement or spousal loss. Matus Law Group offers strategic legal guidance to ensure these annuities are integrated seamlessly into your estate plan. Tune in to discover how proactive planning with Medicaid Compliant Annuities can safeguard your legacy and secure essential care for the future.

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