Introduced
by
To restrict the types of annuities used as a vehicle to protect assets from Medicaid asset limitation requirements. This refers to a reportedly growing practice of senior citizens sheltering assets or transferring them to other family members so as to qualify for Medicaid health care and nursing home assistance, which is supposed to be limited to those with low incomes and few assets. See also House Bill 5827.
Referred to the Committee on Senior Health, Security, and Retirement
