“House panel marks up Medicaid planning annuity bill”, by Allison Bell, LifeHealthPRO

“Members of a House panel today voted 19-13 to endorse H.R. 181, a bill that could change how state Medicaid programs count couples’ annuities when calculating eligibility for nursing home benefits. . . . In the past, many sellers of long-term care insurance and other long-term care planning products have been strong supporters of the idea of tightening Medicaid eligibility rules. Advocates of tightening the rules say that could encourage Americans who have the financial means to protect themselves against long-term care risk to do a better job using savings and insurance to prepare.”

LTC Comment  (from Stephen A. Moses, President, Center for Long-Term Care Reform):  As one of those “advocates of tightening the rules,” the Center for Long-Term Care Reform celebrates and praises the sub-committee’s action.  Now, on to passage in the full House, the Senate and signing by the President. To coin a phrase, it’s a small step for one bill, but a giant leap to prevent Medicaid planning abuse.

House panel marks up Medicaid planning annuity bill