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Common Medicaid Mistakes
We write often about the catastrophic cost of long-term care and how it can bankrupt many middle-class families who do not adequately plan for this. Unfortunately, Medicare does not pay for long-term care. Thus, many families are forced to pay out of pocket or try to qualify for Medicaid, which is a means-tested government benefit program that has strict income and asset requirements in order to qualify. Here are some common mistakes that are made when people apply for Medicaid: