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Medicaid Qualified AnnuityPosted on March 31, 2010. Can a person who has a par value of $ 100,000 cash or 401K and no money in the bank to receive SSI and Medicaid? If he / she distributes only $ 1,000 per month from the retirement account, then he / she has a low income. Is this the person needs to distribute and spend all the money and then qualify for SSI or Medicaid? If you are over 62 and eligible for SSI, you can collect it. But with the pension and 401k you would not qualify for Medicaid, you are eligible for Medicare. I know that Medicaid allows only $ 2,000 in any type of account to qualify for it. Give me the money and you'll be able to qualify. CommentsThere are no comments.Leave a Comment |