I recently read an article on CNBC.com about people asking their financial advisors to “make them poor” so they could qualify for Medicaid. Medicaid is a joint Federal and State program that provides assistance with medical and long term care needs, among other things. Some of the financial advisors interviewed for the article spoke of minimal options people may have when they receive Medicaid. They implied the only way to receive care is in an overcrowded institutional facility. The article totally failed to mention that many states, including Washington, offer programs that allow you to receive care in your own home or other non-institutional settings. Many people prefer to remain in their home if possible. So before you make a decision regarding long term care, do you and your loved ones a favor and find out all the facts about the available options.
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