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20101104_UnderstandingVAPension

20101104_UnderstandingVAPension

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Published by Bruce Johnson

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Published by: Bruce Johnson on Jul 08, 2013
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07/08/2013

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 Attorney

name and title

 Wartime 

veterans Surviving spouses of wartime veterans

The key is to qualify!

20%. 100% .Veteran suffered a service-related injury Veteran’s injury is rated as a percentage of loss 10%.

Disability Compensation (cont.) • Disability compensation is not limited by Veteran’s income or assets • Surviving Spouse/ Dependents may be eligible for Dependency and Indemnity Compensation (DIC) .A.V.

   VA Pension No service-connected injury Available to veterans and surviving spouses Money is paid directly to the veteran or surviving spouse .

Wartime veterans with spouses may be eligible for up to $1.949/month .

.056/month.A surviving spouse may be eligible for up to $1.

REQUIREMENTS FOR EXTRA MONEY         Wartime Service (or widow of wartime Veteran) Medical expenses Based on household income and assets Assistance needed There are three classifications for Pension Basic Housebound Aid and Attendance .

 Served at least 90 days (if before 1980) of actual duty Served at least one day during a war period Other than dishonorable discharge   .

Age And Medical Criteria  Over age 65 unless 100% disabled After medical expenses must have less income than pension benefit Amount of pension will depend on medical needs of veteran or widow   .

     Inability to dress/undress Inability to keep oneself presentable Inability to bathe oneself Inability to take medications Inability to feed oneself .

 Cannot leave house without assistance Does not mean they cannot take care of self within the house Cannot drive   .

Determining Eligibility Gross Household Income –Out of Pocket Medical Income for VA purposes (IVAP) Income for Veteran Administration Purposes (IVAP) .

MAPR is the maximum available pension depending on the need of the claimant .

The VA will not pay anything if: IVAP is greater than the MAPR. .

204 $1.492 $14.120 $19.820 $15.644 $1.949 .728 $23.510 $1.388 Maximum Monthly Pension $985 $1.291 $1.448 $18.MAPR Basic Pension with dependent Housebound with dependent Aid and Attendance with dependent $11.

056 .MAPR Basic Pension Housebound Aid and Attendance $7.672 Maximum Monthly Pension $661 $808 $1.932 $9.696 $12.

388 If IVAP is zero or less Veteran qualifies for entire amount Couple’s Gross Income: $45.388 $ 23.000 IVAP: MAPR: Maximum Pension Allowed: ($ 4.000 UME (Unreimbursed Medical Expenses): -49.000) -23.388 .   MAPR is $23.

  If IVAP is greater than MAPR Benefit to Veteran will be reduced Couple’s Gross Income: UME: IVAP: MAPR: Maximum Pension Allowed: $45.000 -23.612 .388 $ 3.000 -10.000 $35.

FREE VA medical (no co-pay) and FREE prescription through VA pharmacies for formulary drugs .

.The VA doesn’t provide a limit. and they don’t allow much! This is where the greatest need for planning exists.

• Residence • Burial Policies/plans • Small life insurance policies • Personal property .

. the transfer of assets must consider the effect on Medicaid eligibility. Also. instead of worrying about how much we can leave them we need to be planning on how little we can leave them. but we will do the analysis for you! However.There is no exact limit.

. but have fewer (or no) consequences. 3)You may give away more than you needed to. 2) The person you give money to could pass away or get sued.1) Negative tax consequences. There are other options available that provide the same result.

     Discuss long term care planning options Review the healthcare options Determine the income tax consequences of your options Develop the appropriate plan for your situation Assist you with the application .

 Add information on how clients should contact you. .

Thank You! Your information here .

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