VETERANS BENEFITS

The Veterans’ Administration has long-term care benefits available for qualifying wartime veterans or their surviving spouses. These benefits provided through the VA Wartime Pension can be particularly helpful to veterans or their surviving spouses who need or receive long-term care services at home, in assisted living, or in skilled nursing. To qualify for the pension, the veteran must have served as least one day during the official wartime dates and meet the minimum service duration for the conflict or war. Additionally, they must fall below the income and net worth maximums, and meet medical eligibility criteria, which determine the level of compensation: basic, housebound, or aid & attendance.

What many do not understand, however, is that they can reduce their countable income by taking approved medical-related deductions. They can also reduce their net worth (value of countable assets and annual income, less any debt owed) by applying allowable debt-related deductions. In other words, even veterans who earn a significant monthly income may qualify for these benefits, if they also have substantial medical expenses. Veterans who served in any of this nation’s armed forces or their surviving spouses should speak with a veterans’ benefit planning attorney about potential eligibility for these benefits.