Those Veterans who have served during wartime have access for themselves and their spouses to a Pension that will pay for long-term care assistance. It is called the Veteran’s Pension for Aid and Attendance. This would be in addition to any other Veteran’s payment, such as for a disability or other pension. It includes a benefit for those Veteran’s and/or their spouses who are housebound as well as those that are in a facility.
The rules relating to eligibility for this Pension were changed in 2018. There is now a bright line as to what assets and income a Veteran and/or a spouse can have and still be eligible for the Pension to assist with costs relating to care.
If the Veteran and/or a spouse need daily assistance, the determination of what they will be entitled to on a monthly basis depends on a cash-flow analysis.
- A Veteran, with no dependents, for example, who is housebound may be entitled to as much as $22,577 annually.
- A Veteran’s surviving spouse may be entitled to as much as $14,509 annually.
AS of 10/10/2018 the VA implemented a net worth limit of $123,600 or less as what a Veteran and/or the Veteran’s spouse can have and still qualify. This limit is a combination of income, after deducting medical costs, and assets. Assets includes assets in bank accounts, stocks, bonds, mutual funds, and property other than the Veteran’s primary residence and vehicle.
We help these clients determine what can or needs to be done to qualify for this pension