Annuities and MA-LTC

What is an Annuity Transaction?

In Annuities 101 you learned that an annuity transaction is an action taken by an annuity owner related to an annuity.  Certain annuity transactions result in the annuity being subject to either one of two additional MA-LTC requirements. We will be referring to these transactions as MA-LTC annuity transactions throughout the remainder of this course.

MA-LTC annuity transactions are annuity transactions in which a qualified action has taken place on an annuity by the owner within the lookback period or while the person or the person’s spouse was an MA-LTC enrollee.

What is the lookback period?

The lookback period is a specific time period prior to a request for MA-LTC in which transfers of assets must be evaluated. The lookback period you apply to an annuity is 60 months from the date of request for MA-LTC when there is potential eligibility for MA-LTC.

More information about the lookback period is found in the MN Health Care Programs Eligibility Policy Manual or in the MA-LTC Transfers Course.

 

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Annuity Transactions

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Updated December 22, 2022.
Copyright © 2011 Health Care Eligibility and Access (HCEA).