Client calls me today, told me that the broker that sells her health insurance said she should be putting her assets into annuities, something to do w/ being able to buy insurance from the pool. WTF?

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Ive heard of trying to use annuities as a way to shelter against creditors and sometimes being able to be used as a method to qualify for medicaid for LTC purposes, but never like this. Would be news to me...

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If your income is under 4x the poverty line, you get a reduction of premium. Probably a scheme to artificially eliminate investment income.

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Perhaps if the insurance pools base the cost you pay on your income the idea is the shelter you income and thus lower your taxable income. Just speculating. Never heard anything about this.

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Sounds like a stupid-ass idea to me. Go tie your $800,000 up in annuities for 7 years so you can get cheaper health insurance.Anybody got a link where you can go and find out about the pools? I am poorly educated about this. I guess because most of my clients dont think about shit like this, thank God.

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I smell bullshit... dig more, get more info, protect your client from bad decisions

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