Annuities and the Annuitizing Process
TennCare/Medicaid treats annuities in one of two ways: 1. Income or 2. Resource. In a previous blog post, RETIREMENT ACCOUNTS OF THE COMMUNITY SPOUSE, we discussed that resources are either considered countable or exempt by TennCare/Medicaid. A TennCare/Medicaid applicant can transform an annuity, or retirement account, from a countable resource into an exempt resource. However, the process to do this is both time and rule sensitive.
