Fiction: Giving away my money is the only way I'll qualify for Medicaid.

Fact: Based on new federal regulations put into effect almost two years ago, Medicaid will now require you to provide financial statements for five years prior to your Medicaid application. There are still several different ways to qualify for Medicaid without giving up total control of your money, however.

Those who feel they may need nursing care and placement within the next decade should consider purchasing long-term care insurance and start keeping detailed and accurate financial records.


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