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Ask the Hammer: Can I Put a Roth IRA into RMD Status?

Jeffrey Levine explains the protection of IRAs from Medicaid in payout and RMD statuses.

In this Ask the Hammer episode, a reader asks this question:

“I want to apply for home care [through] Medicaid for my 85-year-old mother. She has a Roth IRA. Medicaid will consider an IRA an asset and take it to pay for home care unless it's in RMD status. Can I put her Roth IRA in RMD status?”

Jeffrey “The Buckinghammer” Levine of Buckingham Wealth Partners, met with Robert Powell, editor of Retirement Daily, to answer this question.

Jeffrey and Bob talk about Medicaid in terms of the variations in jurisdiction from state to state. They also talk about the differences between RMD status and payout status for IRAs and how that affects the way the IRA is viewed.

Watch the full episode to find out the answer to this reader’s question.


Got questions?

Email AsktheHammer@BuckinghamGroup.com


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