Medicaid, the joint federal‐​state health care program created in 1965 for the poor, is imposing a growing burden on taxpayers. It has grown larger than Medicare, the federal health care program for the elderly, and already accounts for a larger share of state expenditures than elementary and secondary education. Part of that growth is due to many middle‐​income seniors using Medicaid to pay for nursing home expenses and other long‐​term care. Those seniors own assets that could cover such expenses for a period of time, either directly or by purchasing long‐​term care insurance. Should their assets be used to help Congress cut projected Medicaid expenditures? Please join us for a debate that could profoundly affect the future of Medicaid and long‐​term care.