Medicaid Planning Providers

Please be aware that there are very competent attorneys and financial planners that provide Medicaid Planning services. However, there are also those who are incompetent. In addition, most attorneys cannot receive commissions on annuities because they lack proper licensing and may consider it a conflict of interest. Although the concern about conflict is valid, the flip side is they generally need to charge more for their services because it is their only form of compensation.

On the other hand, financial planners or insurance licensed attorneys who charge a fee and receive annuity compensation may try to place more assets in the annuity than actually necessary to qualify for Medicaid. By doing so they increase the total compensation they receive on the case.

Neither form of compensation is good or bad. It is just important that the client understand the pros and cons of both.