Since October 1993, you can no longer create a Medicaid Qualified Trust. However, under new law, there are still many ways of allocating your assets to protect them as exempt.
Nursing home insurance, sometimes called Long Term Care insurance, is one option. Depending on your health and age, the premium and company placement will vary.
Gifting away assets is still legal, but must be done correctly to avoid ineligibility periods and possible criminal penalties. DO NOT give your assets away or make any unusual gifts without consulting a qualified elder law attorney.