TY - JOUR
T1 - The cost of Medicaid annuities.
AU - Levy, Robert A.
AU - Nyman, John A.
AU - Gabay, Mary
AU - Riley, William
AU - Feldman, Roger
PY - 2006/3
Y1 - 2006/3
N2 - Medicaid annuities are annuities that long-term care recipients use to shelter assets, thereby qualifying them early for Medicaid eligibility. As such, these annuities have the potential to increase Medicaid costs. This study estimates the cost of annuities to the Medicaid program. From a sample of Medicaid applications in five states, we found the rate at which annuities were used and simulated their cost to Medicaid. We estimated that in 2004, Medicaid annuities cost Medicaid about 197 million dollars, which represented a small proportion of Medicaid's almost 50 billion dollars cost for nursing home care.
AB - Medicaid annuities are annuities that long-term care recipients use to shelter assets, thereby qualifying them early for Medicaid eligibility. As such, these annuities have the potential to increase Medicaid costs. This study estimates the cost of annuities to the Medicaid program. From a sample of Medicaid applications in five states, we found the rate at which annuities were used and simulated their cost to Medicaid. We estimated that in 2004, Medicaid annuities cost Medicaid about 197 million dollars, which represented a small proportion of Medicaid's almost 50 billion dollars cost for nursing home care.
UR - http://www.scopus.com/inward/record.url?scp=33750102139&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=33750102139&partnerID=8YFLogxK
U2 - 10.1377/hlthaff.25.2.444
DO - 10.1377/hlthaff.25.2.444
M3 - Article
C2 - 16522585
SN - 0278-2715
SN - 1544-5208
VL - 25
SP - 444
EP - 451
JO - Health affairs (Project Hope)
JF - Health affairs (Project Hope)
IS - 2
ER -