Many of you are familiar with the special monthly pension available to wartime veterans or their surviving spouses. Aid and Attendance is a needs-based benefit that can provide a monthly income of up to $2,120 for a married veteran who meets certain medical, service and financial criteria. Many veterans use this income to supplement the cost of care at home or in the assisted living facility.
In January, the Department of Veterans Affairs (VA) proposed to change its regulations governing the entitlement to the Aid and Attendance pension program. The proposed regulations would establish new requirements regarding how a claimant’s net worth is evaluated, how transfers of assets are handled and would clarify what medical expenses could be used to reduce a claimant’s net worth. The VA has proposed official statutory changes to reduce the benefit to $90 for those persons on Medicaid in the nursing home. In addition, the VA proposes to implement a 3 year look back period for transfers made prior to application.
For more information regarding the proposed rule, visit http:wwww.federalregister.gov/articles/2015.
Submitted by: Brigid Fernandez, LCSW, JD