Fiction: The only way Iíll qualify for Medicaid is if I give away enough of my money.
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Fact: To ensure that you havenít transferred assets in order to qualify for Medicaid, the program requires you to provide financial statements for five years prior to your application (the "look-back period"). If you feel you may need nursing care within the next decade, consider purchasing long-term care insurance and start keeping detailed and accurate financial records. Your financial advisor can also advise you on different ways to qualify for Medicaid.
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