Ohio

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• Ohio’s long-term care rules state that an institutionalized individual (or spouse) must disclose any interest in an annuity, and failure to disclose can result in denial/discontinuance for failure to cooperate. Ohio Laws
   
• Ohio states that many annuity purchases/transactions are treated as improper transfers (penalty exposure) unless the State of Ohio is named as remainder beneficiary in the correct position (first, or second after a community spouse/minor/disabled child under specified conditions). Ohio Laws
   
• Ohio lists conditions including irrevocable and non-assignable, actuarially sound (referencing SSA life expectancy tables), and equal payments with no deferral and no balloon payments. Ohio Laws

  Ohio has rules for using a Qualified Income Trust (QIT / “Miller Trust”) to become eligible for Medicaid payment of long-term care services when income is an issue. Ohio Laws 

 Ohio cases often require tight coordination between (1) annuity structure and (2) how income is handled under Ohio LTC Medicaid. We help ensure the annuity paperwork and beneficiary language match what Ohio’s rules describe.