My husband and I transferred our house to our kids (in their 20s) because people told us that we must do it in order to qualify for Medicare. And so, we did it. But now I am hearing that if we accept any Medicare such as nursing home coverage help in the future, Medicare will come back and liquidate the house by selling it. So is that true? Does it mean that my husband cannot have Medicare pay for nursing home if he goes to it in the future (maybe 7-10 years from now)? He's going to turn 65 years old this year. I still plan to live at the house until it is time for me to go to the nursing home.
If my husband ends up in the nursing home in the future, does that mean Medicare will come after the house and it would have to be sold? It's because I will not have any money since I am unemployed and have little savings to pay for the nursing home. Or will they go to my kids and put the whole Medicare debt on them forcing them to sell the home because they cannot cover the debt since nursing expenses are expensive in massachusetts? My kids are not likely going to pay for any of the nursing expenses and will only give me a place to stay at the house until I go to the nursing home. I tried asking some lawyers, but he is not giving me any answers (actually he was the one who urged me to transfer it at less than FMV in the first place unfortunately).
Please provide any insight/comments that you may have on this. It will be much appreciated. Thank you.