Veterans and Spouses: Aid & Attendance Pension Benefit, part 5

We continue with part 5 of our series on “myths and misconceptions” concerning the Aid & Attendance pension benefit.

To receive the financial benefits, a veteran must have served on active duty during a period of war and received an honorable discharge. Single surviving spouses of such veterans are also eligible. Additional eligibility requirements include a documented medical condition that requires regular assistance with activities of daily living, and financial need.

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Myth # 10: I heard that the asset ceiling for my savings and estate portfolio is $40,000. Is this true?

Answer: No. There are many figures being tossed around concerning “total liquid assets”, and this is yet another that is incorrect. The VA has set a ceiling on liquid assets at approximately $100,000 or less. This means, for a veteran and spouse who are thinking about preparing an application, they must have combined household assets of $100,000 or less. Similarly, for a single applicant (i.e., veteran with no dependents, or a surviving spouse of a wartime veteran), the total liquid assets need to be less than $100,000.

Myth # 11: My father already receives medical benefits through the VA. Therefore, I doubt he is eligible for Aid & Attendance.

Answer: No, this is false. A veteran may be wise to have medical coverage through the substantial resources offered within the VA medical system. But this in no way precludes eligibility for Aid & Attendance. The former offers hospitalization, medical care and attention. The latter provides financial assistance to help defray costs related to homecare.

Myth # 12: I’m healthy, but my wife requires significant care. Should I look more closely at this benefit?

Answer: Aid & Attendance may provide some financial assistance. There are generally three categories for claim applicants: A) Veteran and Spouse; B) Veteran with no dependents; and C) Surviving Spouse of eligible wartime veteran. Each of these claim categories provides a different dollar amount as a maximum benefit. One criteria to determine eligibility is having a medical/health related need, effecting two or more of your “activities of daily living”, or ADL’s. Should the spouse require care, she and her husband should think about submitting an application for benefits.

Call Home Care Partners at (781) 378-2164 to discuss in greater detail.

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