Sunday, November 15, 2009 Important 3rd Circuit Decision on AnnuitiesIn Weatherbee v. Richman, the 3rd US Circuit Court of Appeals ruled that a Medicaid Qualified Annuity is not as resource to be counted against an applicant for Medicaid. An earlier case, James v. Richman, held that a Medicaid Qualified Annnuity was not a resourse, but those facts were prior to the DRA of 2005. This will help community spouses maintain a higher standard of living after a spouse enters a nursing home. The full case can be found at http://www.ca3.uscourts.gov/opinarch/091399np.pdf. |