Final answer:
While exact figures for Medicaid spending on recipients in the last two years of their lives are not provided, it is known that 64% of Medicaid funds are allocated to seniors and people with disabilities.
Step-by-step explanation:
The precise percentage of Medicaid's money spent on recipients in the last two years of their lives is not provided in the reference materials provided. However, the materials do state that out of total Medicaid spending, a considerable portion is spent on seniors and the blind and disabled, which account for 20% and 44% respectively. This indicates that 64% of Medicaid funds are allocated to these groups. It's important to note that healthcare expenditures are highest for the elderly, and an increasing share of Medicaid funding has gone to nursing home costs for elderly patients, but the exact percentage for the last two years of life is not explicitly mentioned.