Hi folks, JG Wentworth here. Today we’d like to talk about a rather serious problem – one that can strike both current annuity recipients and those planning on receiving money from their annuity in the future.
The problem involves Medicaid and Medicare, and whether receiving annuity payments might actually lead to your inability to receive this essential healthcare support.
At issue is how the government determines Medicaid and Medicare eligibility. If your assets are too high – assets that can be based, for instance, on how much money your annuity is regularly paying out – the government may disqualify you!
It’s a terrible problem, especially for folks who are dependent upon Medicaid and Medicare for either their healthcare needs or for the medical needs of a loved one. Fortunately, there is some good news – a solution that may allow you to get cash from your annuity while also maintaining Medicaid and Medicare eligibility.
The solution may be to sell your future annuity payments for cash now. This will allow you to either purchase a Medicaid compliant annuity or ‘spend down’ your assets so they fall below the line the government expects for those seeking Medicaid and Medicare support. It’s a win-win if you are looking for both cash now and the medical care you’ll need in the future.
Interested in learning more about selling your annuity payments? For more information, all you need to do is give JG Wentworth a call. We are one of this nation’s largest purchasers of future annuity payments, and we can help get money from your annuity in your pocket sooner while also giving you or your loved ones access to the health care you need. Please call us anytime at 877-227-4713.
Nothing above is meant to provide financial, legal, or tax advice, you should meet with the appropriate professionals for such services.