A Step-by-Step Guide to Your First MCA Case

When it comes to crisis Medicaid planning, timing is crucial. The longer your client has to wait for a solution, the more money they’ll lose paying for long-term care. If you believe your client could benefit from a Medicaid Compliant Annuity (MCA), you’ll want to start as soon as possible. Fortunately, when you work with us, we make the process as quick and streamlined as possible. Here’s what you can expect when working on your first MCA case with us.

Not sure where to begin? Schedule a call with us.

1. Contact your Relationship Manager and provide some details about the case.

The first step is simple—reach out to us with your client’s case details. If you’re new to working with us, you’ve likely already connected with one of our Relationship Managers. You can share your client’s case facts with them directly, or if you prefer, you can start a proposal online or download a paper intake form and email the completed proposal to [email protected]. Your Relationship Manager or the intake form will provide guidance regarding what information is needed, such as the client’s age, marital status, state of residence, and asset and income details.

2. You’ll be partnered with a Benefits Planner, who will provide a custom solution tailored to your client.

Once we have your client’s information, you’ll be paired with a Benefits Planner—an expert in using MCAs to achieve Medicaid eligibility. Your Benefits Planner will be your primary contact throughout the case. Using the details you provided, your Benefits Planner will create a proposal outlining a potential MCA solution tailored to your client. This proposal will include the financial impact of implementing the MCA and any additional considerations to keep in mind. As the case evolves, your Benefits Planner will update the proposal as needed and answer any questions you may have. There’s no obligation to proceed if your client decides not to move forward.

3. We’ll send you the annuity application.

If you and your client decide to proceed with purchasing a Medicaid Compliant Annuity, we’ll provide the appropriate annuity application and guide you through the necessary steps. Your Benefits Planner will explain how to submit the application and where to send the funds and will confirm when everything is ready for processing.

4. We’ll process the paperwork and submit it to the insurance company.

After you and your client complete the annuity application, we’ll conduct a review to ensure the application is accurate and compliant with your state’s regulations. Then, we’ll submit it to the insurance company.

5. The insurance company will issue the annuity.

Once the insurance company receives the application, the policy is typically issued within five to ten business days. Upon receipt, we will immediately forward an electronic copy to your office.

6. Your client can apply for Medicaid benefits.

Once you have the MCA policy, your client is all set to apply for Medicaid. The annuity documentation must be submitted as part of the Medicaid application to illustrate asset compliance. If the state Medicaid agency caseworker has further questions regarding the MCA, just let us know —we’re here to assist.

Read More: The Importance of Medicaid Planning and the Attorney’s Role

The entire MCA process can be completed in as little as seven business days, but we’ll be with you every step of the way, no matter the timeline. If you’re uncertain whether a client is a good fit for an MCA, give us a call, and we’ll discuss the case with you. All proposals are complimentary, and there’s no obligation to proceed.

Maximize the benefits of our partnership and reach out to us on your next case!