The VA Aid & Attendance (more accurately called the Pension Benefit program) is a great program to help war-time vets pay for long term care costs. There are three qualifications.
First, the vet must have served for 90 days or more with at least one day during a war period. Actual combat action is not necessary; serving stateside is sufficient if done during the war period.
Second, the vet or the widow of the vet, must be 100% disabled or 65 years of age or older. To qualify for the highest benefit amount, the vet or the widow must have ongoing care costs that a doctor has certified are medically necessary such as assisted living or memory care as well as in home care.
Third, there is a two-part financial test. Income, as adjusted for this program, must not exceed the highest benefit rate available to the vet or widow. In addition, the net worth of the vet or widow must stay within prescribed limits. (My team can help you sort out the details.)
If these requirements are met, the vet may qualify for a benefit ranging from a few dollars to over $2100 per month. The surviving spouse may qualify for a few dollars to over $1150 per month. These extra dollars can be used to help keep a vet at home and bring in extra help as needed, pay for assisted living or allow the spouse to remain at the family home. This is an absolute blessing to those families trying to take care of their loved ones.
So if you’re a vet, the surviving spouse of a vet, child of a vet, friend of a vet, neighbor of a vet, caretaker of a vet, just happen to know a vet, then you need to get educated on the Pension Benefit or Aid & Attendance program and make sure the vet you know is taken care of. If you need more information, call us (208) 939-7658 or check out our website at www.idahoestateplanning.com.
This Article was submitted by Mark E. Wight, attorney, President of Idaho Estate Planning. For questions call (208) 939-7658 or check out our website at www.idahoestateplanning.com.