Hi cat -
Not quite. The law as interpreted considers that you are obligated to pay for your parent's care when they are old because they paid for yours when you were their dependent child. For decent, loving parents, this would never be an issue - they give all they can to you, and then when it's time, you give all you can to them.
But for an N? Talk about an N's wildest dream. Legal license to exploit and drain you, financially as well as in every other way now. Without limit, all the days of your life.
If they give you a gift within a certain time of trying to qualify for Medicare, they won't qualify for Medicare because the gift will be seen as an attempt to shelter assets by giving them to you.
All that means is that the state will use the recent gift as further justification for coming after you. It doesn't mean that you are safe if Nmom didn't give you diddly after you were grown. If you and she are both breathing, and you still have a nickel, this law allows the State to take that nickel away from you to pay for her nursing home care.
I've talked to elder law & family law attorneys about this. Attorneys plural. More than one law firm. I wanted to be very sure.
*****
For some reason, trying to get this info across has felt like a major uphill battle for me, and I wasn't expecting that. I'm learning that unexpected difficulty in communicating means something. I'm not sure what it means in this case, but I'm stopping here; people have enough info to do their own Googling etc., and the topic is slightly offthread anyway. It was never meant to be more than a single 'alerting' post.
Good luck, all.