VA’s New Rules That Help Seniors Pay For Care

 The Department of Veterans Affairs recently implemented sweeping new changes to its “Aid and Attendance” program, which provides tax free money to veterans and their surviving spouses to help pay for long-term care, or for assisted living communities.
Before the new rules were enacted, the VA used a complex “formula” to determine if the Veteran or surviving spouse was in financial need. Because of the complexity, the important benefit was difficult to obtain, and almost impossible for the non-lawyer to understand.
However, the new rules are a “game changer,” and much easier. A senior vet or surviving spouse requesting VA assistance (called a “claimant”) under this program now has a “limit” of $123,600 in assets (excluding a house and car) and annual income combined. A claimant’s countable income for VA purposes can be reduced too, if the claimant incurs monthly medical expenses, such as assisted living costs or paying an in-home caregiver. The claimant can even pay a non-spouse family member to be a caregiver.
The VA also imposed a 36-month lookback period on transfers or gifts. This means a claimant cannot give away money in order to be eligible for the benefit. There are many other rules to follow, but the benefit, if eligible, is great. The monthly benefits are: married veteran $2,169, single veteran $1,830, and surviving spouse of a veteran $1,176. This can make the difference between affording care or an assisted living community, or going without the needed assistance.
For a comprehensive consultation to explore VA benefit eligibility, Medi-Cal benefits for skilled nursing care, asset protection, estate planning and elder law, please call 661-287-3260 or visit www.themcnamaralawfirm.com.