The amount of benefit you receive will depend upon the total cost of care, total household income, other unreimbursed medical expenses (such as Medicare premiums, private health insurance, prescriptions, etc.) and your ability to pay for these expenses out of current assets.
Qualification Requirements
To determine the amount of benefit, all unreimbursed medical expenses (including the cost of home healthcare, assisted living, or nursing home expenses) are subtracted from the total household income. This 'net' income is compared to an annual threshhold established by the VA. If the resulting income is negative (in other words, you are spending more than you are taking in), then the full monthly benefit is available. If the number is not negative but is less than the threshhold amount, a partial benefit may be available.
If you have sufficient assets to pay for your care (based upon life expectancy), you may not be eligible for benefits. Proper planning may eliminate this obstacle. Call us at 520-270-9777 to discuss your planning options.
Additional Information
Here is an example of how this benefit works:
Veterans Income:
Pension $860
Social Security $1230
Total $2090
Cost of Care
Assisted Living Facility $2700
Medicine $ 300
Transportation $ 200
Total $3200
This Veteran is spending $1110 per month out of his/her savings to meet expenses.
This Veteran could qualify for $1949 per month if he/she is married, or $1644 if he/she is single, in TAX FREE
money to help him/her pay for their care. How would your family benefit from this scenario?
The Veteran's new monthly income would be about $4039 per month with expenses of only $3200 per month!! Instead of
taking $1110 per month out of savings, he/she would have almost $840 per month of EXTRA INCOME!!
AND REMEMBER . . .this benefit is available for a veteran, their spouse, or their surviving spouse!!
VA Aid and Attendance
help for those who have served
