Tracey Ingle
One of the biggest fears many people have today is having their life savings wiped out if they have to pay for substantial medical and health care expenses, or God forbid, assisted living or nursing home care. Whether you or a family member is in crisis or not, it is important that you understand what you can do to protect your hard-earned assets.
Most veterans and their surviving spouses are not aware of a certain veterans pension benefit commonly known as Aid and Attendance. A veteran who is over 65 or now disabled may qualify for this benefit to pay medical bills.
In a free guide titled Nuts and Bolts Guide to Veteran Pension Benefits, you will:
•Learn the truth about the veteran pension.
•Learn how these “secret benefits” are available to certain veterans over age 65.
•Learn how these benefits can be used to pay for home health care and assisted living.
•Learn how a veteran with a spouse can receive up to $1,949 per month in assistance.
•Learn how surviving widows can qualify for $1,056 or more per month in assistance.
•Learn why certain ways of qualifying for this benefit can become a “Medicaid Time Bomb.”
The veteran pension is a monthly check mailed directly to the veteran. It can mean the difference between moving to a nursing home and staying at home.
But that’s no all: Once the VA has approved the veteran for a pension, they also get:
•Free Veterans Affairs medical treatment (no co-pay).
•Free prescriptions through VA pharmacies for some common medications.
There are certain criteria every veteran must meet:
•Be at least 65 years old.
•Served at least 90 days in active military service (24 months if entered service after Sept. 1, 1980).
•Served at least one day during a period of war, although do not have to have served in combat.
•Discharged for any reason except “dishonorable.”
A wartime injury or disability is not a prerequisite for qualifying for the veteran pension.
Veterans’ service organizations (VFW, American Legion) can assist in filing a claim for the pension. What they can’t do is advise on Medicaid qualification in conjunction with Veteran Pension planning. For example, even if you are in a nursing home and receiving Medicaid, receiving this pension can reduce the amount your estate (and therefore your family) would be required to pay back to the state.
The rules for Medicaid and Veteran Pension are different. For example, the VA doesn’t care if you give your assets away to qualify. But that’s a huge trap for someone who is unaware of Medicaid rules. Giving assets away can make you ineligible for Medicaid benefits for as many as five years.
You need a comprehensive senior life plan that includes estate planning and planning for the possibility of applying for the Veteran Pension and/or Medicaid. Call 508-281-7900 to receive your free Nuts and Bolts Guide to Veteran Pension Benefits at no obligation.
Tracey Ingle is the Probate Puzzle Person and Principal of Ingle Law. She can be reached at 508-281-7900 or tracey@inglelaw.com or go online at http://www.inglelaw.com/.
