You are not alone. Most seniors cannot afford, and might not qualify anyway, for long-term care insurance. Those who purchased a policy often find that the benefits are insufficient. The best alternative is to consult with an Elder Law attorney about creating a plan to become eligible for Medicaid benefits, and to protect your assets and income at the same time.
For effective planning, if you are making any transfers of your assets now, the five-year look back period must be taken into account.
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