Appeal 0806071

Fair Hearing Rehearing Decision 0806071

Rehearing: the annuity is a private agreement that is no more than an unenforceable, unsecured promise that ten monthly payments of $6,264.34 might be made with a return that is $1,356.60 less that the $64,000.00 transferred; the annuity was entered into by appellant (or someone on her behalf) with an entity not licensed in the Commonwealth, making it legally invalid in the state of Massachusetts; because of the agreement’s invalidity, it cannot be found to have fair market value; appellant entered into this agreement solely for the purpose of establishing eligibility for MassHealth.

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