Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: MONDAY, November 28, 1994 TAG: 9412070036
SECTION: BUSINESS PAGE: A8 EDITION: METRO
SOURCE: MAG POFF
DATELINE: LENGTH: Medium
Can a home be taken from a widow to pay hospital care, nursing home or other debts? Is the widow personally responsible for upkeep in this home? Can a widow receive government assistance for a nursing home while in possession of this home?
A: A life estate gives the recipient the right to use the assets during his or her lifetime. Upon that person's death, the assets go to another person or entity designated in the original will.
If your late husband was in a nursing home, Medicaid assistance would kick in after you had depleted your assets to a certain point. The spouse can keep half the couple's resources up to $72,660, or $36,330. The rest of the assets must support the person in the nursing home until that point is reached. The amount that can be retained is adjusted yearly for inflation.
Those figures, however, exclude the value of a home, household goods and one car regardless of their value. These, the spouse can keep.
The spouse is also entitled to monthly income for shelter expenses. The amount, which is adjusted annually for inflation, is $1,179 a month for this year. The rest of the income must be used to support the confined spouse.
If you are thinking of your own status rather than that of your husband, a widowed person (or a single person) receives a six-month exemption for a home, household furnishings and one car when he or she enters a nursing home under Medicaid. During those six months, every effort is made to return that person home.
After six months, however, confinement in a nursing home is considered permanent. The person is limited to assets of $2,000 and must sell his or her other assets. The house and car must be sold, or the person must at least prove that a good-faith effort is being made to sell the house and other possessions beyond the $2,000 limit.
Little help available for those at poverty line
Q: I am 71 years old, and I have been a widow for 30 years. I was left with three young children, so I got Social Security until the youngest was 18. I also received a small veteran's check because my husband was in the Navy.
I have worked part time and paid into Social Security, but they say I can't draw any benefits off my record. I get $470 a month from my husband's pension, which is more than I could get from my own. I still work part time to make ends meet, but I am not well and don't know how much longer I can work. Do you have any answers that would help?
A: Corinne Gott, superintendent of the Social Services department in Roanoke, said you receive just a little too much money to qualify for public assistance. She said very little help is available for people right at the poverty line, which is where you stand as a single person receiving $5,640 a year.
The SSI program, for example, pays $446 a month plus a supplement of $20, which is approximately what you receive now. You are better off with your husband's Navy pension.
Gott said you should call Social Security to ask if your husband qualified for a Social Security benefit. Navy personnel have been covered by both a pension program and Social Security since World War II, Gott said. You must have your late husband's Social Security number in order to make such an inquiry. If he was eligible for both, however, you would receive a little more money.
At your income level, she said, you would qualify for Medicaid, which has better benefits than Medicare does. She suggested you apply at your local Social Services office for Medicaid, which would at least pay your medical bills. This would leave you more money for other purposes.
Dialing for bond information
Q: I am interested in buying U.S. Treasury bonds. Recently, on a television program, they gave a phone number to call for information. Part of the number was 1-202, but I was unable to get the rest. I would appreciate it if you could supply me with the correct number.
A: Chances are the number you saw was for the public information number for the Bureau of the Public Debt, which handles the sale of Treasury bills, notes and bonds. That number is 1-202-874-4000. It is answered by an automated attendant, meaning you will have to work your way through a recording when you dial.
People who live in Virginia will probably find it easier to contact the Federal Reserve Bank in Richmond, which also can take your order. The number there, which is answered by a person when you can get through, is 1-804-697-8372.
Tell the person who answers that you want information about becoming a Treasury Direct customer. You will have to set up an account, and your bill, note or bond will be kept through electronic record. Your interest must be deposited in your bank account by wire.
by CNB