How are retirement annuities treated for Medi-Cal eligibility?

Sunday, Dec. 13th 2020 5:52 AM

Annuities are not considered exempt unless they are IRAs, KEOGHS, or work-related pension funds held in the name of a person who does not want Medi-Cal for him- or herself. If payments are being received, however, those payments are considered income. The cash surrender value of IRAs,
KEOGHS and work-related pension funds held in the name of an individual who does not want MediCal is counted until the individual takes steps to receive either the cash lump sum or periodic payments of principal and interest. The periodic payments are considered income and the balance is considered unavailable.

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Posted on Sunday, Dec. 13th 2020 5:52 AM | by Share of Cost | in Medi-Cal, Share of Cost | No Comments »

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