The high cost of long-term care can quickly deplete a lifetime of savings, and leave nothing to pass on to other generations. To assist in easing this burden an individual or couple can apply for Medicaid.
But, don’t you have to be BROKE to apply for Medicaid? NO!
It is not necessary for you to completely deplete your assets to “zero”. A little-known Medicaid planning technique involves a product you may be very familiar with – an annuity. However, there are certain requirements that must be met for this to be a “Medicaid Compliant Annuity”. This isn’t the same that standard annuity that you get from just any insurance company.