Non-Medicaid SPIA
Single premium immediate annuities can provide value outside of traditional Medicaid Compliant Annuities when planning for long-term care. Learn how a non-Medicaid annuity can help.
A non-Medicaid single premium immediate annuity is a contract funded with a lump sum that begins making payments immediately for a fixed term, but it does not comply with Medicaid’s restrictions. This type of annuity can be used to fund a Personal Services Contract (PSK) in Florida.
When to Consider a Non-Medicaid SPIA
A non-Medicaid SPIA can be used in a variety of situations, including crisis planning scenarios in Florida. This product is deal for clients who:
- Are seeking Medicaid eligibility in Florida
- Are funding a Personal Services Contract (PSK) in Florida
- Need an immediate annuity without Medicaid eligibility in mind
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