Why use annuities?                          Is my Annuity Guaranteed Against Loss?

Why choose to deplete all of your assets when there are other options?
Using annuities to protect assets from nursing home expense is very popular and very effective
The Kennedy Kassebaum Bill firmly establishes annuities as a viable tool to protect assets from " Medicaid Spend Down". 

Assets of a married couple that exceed the community spousal resource allowance, and income in excess of the minimum monthly maintenance needs level, must be disposed of if the sick spouse is to become eligible at an early date for Medicaid benefits. " Asset Spend-Down" is available, but  not very attractive from the point of view of wealth preservation unless the expenditure is used to increase the value of an exempt asset.

Annuities are a more appealing approach. There are many annuity planning options, with their relative advantages and disadvantages. The tax impact of liquidating assets to convert them to an annuity must be evaluated as well.

In Medicaid planning, deferred annuities are generally avoided because they are at the greatest risk of being considered an available asset under the new rules. Consequently, immediate annuities (under which a client’s funds are transferred to an insurance company in exchange for the promise of a stream of future periodic payments) are the type of annuity most attractive in Medicaid planning.

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