Although MassHealth’s calculation was correct using the life expectancy table that it did, it was incorrect to ignore the appellant’s life expectancy table from Aviva; MassHealth was presented with a copy of the Aviva table and, without sufficient justification, refused to apply it; this is not acceptable, as a life expectancy table from an annuity company cannot be disregarded for the sole reason that it affords a better outcome for a client; rather it must be afforded “due weight.”
Category: Annuity
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.
Appeal 0801478
The value or projected payments from the appellant’s annuity is less than the value of the transferred asset (purchase price); MassHealth determined the amount of the disqualifying transfer based on the actuarial value of the annuity compared to the appellant’s life expectancy using life expectancy tables determined by MassHealth, giving due weight to the life expectancy tables of institutions in the business of providing annuities.
MassHealth Appeals 