Housebound benefit/assets question

[qst.pete]

I recently had an appointment with a gentleman at the American Legion to discuss the possibility of making application for the widow's housebound benefit for my 79-year-old mother.  Mom can feed, bathe and dress herself, but is suffering from mild dementia, osteoporosis, and incontinence.  She lives in her own home.  We currently have someone tending to her two days weekly.  Admittedly, her circumstances are not bad at this time, but we are trying to plan effectively, because the prognosis for her dementia is 'poor.'  It will not be long before she needs to move to assisted living.

The Legionaire that I spoke with said that she would not qualify, based on the fact that she has $72,000 locked into an annuity (it pays her $300 monthly).  Some of the posts here refer to $80,000 limit, but I cannot find any detail on that.  Although we have not consulted an elder care attorney yet, the fine print in the contract seems to indicate that it cannot be transferred until time of death. 

Does anyone else have understanding/experience in dealing with asset limits in these applications?  Are there asset limits?  Has anyone successfully been able to change an annuity contract when a fiduciary is appoineted?  (Again, I know I need to consult an eldercare attorney.)

I know that this site/forum deals with Aid & Attendance and hope my question referring to the lesser housebound benefit will not be seen as inappropriate.  Thank you.

[LoveThisCountry]

Here in Florida, the asset limitation has varied from $30,000 to $80,000 depending on which office you spoke with.  However, we have heard from a reliable source that in the near future that will change - all applications will be approved through the VA Pension Center in Philadelphia, and they will adopt the standard $80,000 asset limit across the board.

As you pre-plan for when assisted living becomes necessary, you should also consider pre-planning for long-term nursing home care and how Medicaid may fit into that picture.  VA does not have a look-back period for asset transfers but Medicaid does (federally it's now 5 years, but Florida is still going by the 3-year lookback rule).  Obviously this will depend on the state where your mother resides.  Whoever counsels you on these matters should be able to advise you the best way to proceed.

I can't speak for the admins here, but I would not consider your question as pertaining to Housebound benefits at all inappropriate.  The whole idea here is to assist Veterans (and spouses of deceased Veterans) to get the benefits they are entitled to.  Good luck in your planning.

Scott

[vetadmin]

Pete,

First Aid and Attendance is part of the "Improved Pension", which is a 3-tier benefit to include Housebound, so your question totally relates to this benefit and this site.  I would much rather folks ask here with the hope of someone being able to either reply or share that would prove helpful.

We do suggest that you speak with someone who has the expertise to best advise you on how to proceed.  Don't forget that you can back out all ongoing medical cost to bring her income down.  We also suggest that you make sure you have all the copies that you will need if and when the time comes so that you can move forward quickly.

We wish you the best of luck, and if you have additional questions, they are always welcomed.  We will do our best to be helpful.