The Department of Veterans Affairs (VA) calculates income in an odd way. First, the VA will look at all of your income. It will then subtract any unreimbursed medical expenses from your income. Unreimbursed medical expenses can include in-home caregiving expenses, assisted living expenses, insurance premiums, paying an adult child to be a caregiver, among others. The Veteran will receive the maximum benefit amount if the medical expenses exceed 105% of income, otherwise, a smaller amount will be granted. However, every Veteran’s situation is different and a detailed analysis is needed to determine income qualifications.
The VA also looks at the Veteran’s or the Surviving Spouse’s assets to determine the need for this cash benefit. Assets include all bank accounts, brokerage accounts, etc. However, the asset limitation does not include the Veteran’s or the Surviving Spouse’s primary residence.
The VA eligibility worker has wide discretion in determining the asset requirement for each case. However, $80,000 and below seems to be the amount that the eligibility worker has discretion over to approve an application. An application with more than $80,000 in assets is likely to be reviewed by the VA eligibility reviewer’s supervisor for approval.
If the Veteran or Surviving Spouse Does Not Qualify
If the Veteran or Surviving Spouse does not currently qualify for Veterans Pension with Aid and Attendance due to the Income Requirement or Asset Requirement, OC Elder Law can help. There are proven strategies we can implement to qualify and obtain these cash benefits. Let our expert Veterans Affairs Accredited attorneys navigate you through this process and give you peace of mind.
If the Veteran or Surviving Spouse Already Qualifies
There is no need to pay anyone for the application. In fact, it is illegal for anyone to charge with the application. Please visit our website at OCElderLaw.com to download the necessary application forms including the VA Application, the Doctor’s Form, and the Care Provider Report.