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What countable assets, if any, does Delaware include as part…

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What countable assets, if any...
What countable assets, if any, does Delaware include as part of their eligibility determination? In October 2015 I elected to receive a lump sum pension payout from my former employer, and had this money transferred into an annuity contract. I was on Medicaid then and now. When I file my 2015 tax returns, will the State of Delaware say I am no longer eligible for Medicaid because of this IRA/annuity asset? I am 63 yo female.
Submitted: 2 years ago.Category: Finance
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Answered in 1 hour by:
1/21/2016
Financial Professional: Lane, JD, CFP, MBA, CRPS replied 2 years ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 14,861
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I hold a JD (Juris Doctorate, a doctoral degree in the law), with concentration in Tax Law, Estate law & Corporate law, an MBA, with specialization in finance & tax, as well as CFP® and CRPS designations. - I’ve been providing financial & tax advice since 1986.

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Please don't shoot the messenger here, but Delaware does count IRAs and other retirement plans as countable assets.

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One thing that might help? annuitizing the annuity ... Forgoing the balance to the insurance company in return for an income you can't outlive (sometimes called an immediate annuity)

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With the expansion of MEdicaid under ACA (and DE did opt to expand) the 138% of federal poverty level for Medicaid qualification purposes is $16,243.

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If the immediate annuity plus your other income is less than that you would still be eligible

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