Method 1 – Exceptions

Annuities and MA-LTC

Reporting and Verification

Annuity Transactions

MA-LTC Annuity Requirements

Designating DHS as the PRB

Requirement Conditions

Designation Process

Designation Activity

Transfer Evaluation

Requirement Conditions

Evaluation Method

Actuarially Sound Determination

Transfer Evaluation Activity

Exception

Do not complete an annuity transfer evaluation if the annuity is an employment-based pension plan held in the form of an annuity. See EPM 2.3.3.2.7.2 Retirement Funds and Retirement plans for more information about how to evaluate these as either income or assets.

Justin, a current MA enrollee, is requesting MA-LTC today. He owns an individual retirement annuity which he purchased one year ago using funds from his savings account. He receives $300 each month from the annuity.

Complete an annuity transfer evaluation for Justin’s annuity because he has met all of the conditions. Justin’s annuity does not meet a transfer exception because it was funded with his savings. Justin is the payee and an MA-LTC annuity transaction occurred.

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Transfer Evaluation - Evaluation Method 1

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Updated December 22, 2022.
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