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  • Writer's pictureRetirement and Annuity Advisor Jennifer Lang

Lack Of Long-Term Care Planning Forces Retirees To The Poverty Level For Assistance

Updated: Feb 2, 2022

Retirees underestimate the cost of long-term care and overestimate the public funding that is available.

Medicaid has become the primary source of public funding for long term care, but because it is a government program designed to help those in financial need, individuals must "Spend Down" their personal assets and meet the federal poverty guidelines before qualifying for assistance.

Medicaid Compliant Annuities are a tool to help retirees qualify for Medicaid assistance. Due to their complexity, individuals need to work with an expert.

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