If you pay your parent's nursing home bills and then later get ill yourself within the 5 year look back period, do your payments count as gifts and you are penalized?
The key is to not pay your parent's nursing home bill as 97yearoldmom said unless you can very comfortably afford it, as in having a net worth over 8 figures. There is no reason to, save maybe to have your parents enjoy a private room rather than a shared room. I don't mean to sound harsh or unsympathetic, but it doesn't make sense. I don't know the answer to your question, but its very possible Medicaid will view you giving away your assets as gifting.
I love this question because it is a real possibility. I wonder how often it happens.
The key here is to NOT pay your parents NH bill.
Edit: If you have been paying your parents NH bill, please see a certified elder law attorney who is well versed on Medicaid to help guide you on these decisions. Most of the time it seems that whatever remedy available should be done BEFORE money is paid out but the quicker any misstep is caught, the better. If you would share more about the situation you are in, you will get more relevant answers.
The key here is to NOT pay your parents NH bill.
Edit: If you have been paying your parents NH bill, please see a certified elder law attorney who is well versed on Medicaid to help guide you on these decisions. Most of the time it seems that whatever remedy available should be done BEFORE money is paid out but the quicker any misstep is caught, the better. If you would share more about the situation you are in, you will get more relevant answers.