Veterans Pension Benefits for Long-Term Care
Veterans’ pension benefits are extremely valuable to veterans and their families who take advantage of them. These benefits can help to defray the high cost of long-term care by providing an additional income stream for a veteran or spouse if they are faced with a long-term care need, while at the same time allowing them to retain assets and deplete their savings at a much slower rate.
Aid and Attendance
Long-term care costs add up quickly. The Veterans Administration (VA) has a program called Aid and Attendance, which provides money to those who need assistance performing everyday tasks. Non-service-connected disabilities, such as various memory or mobility issues, could qualify a veteran or surviving spouse if they require the aid of another person to perform everyday activities.
VA Lookback Period Defined
The lookback period for asset transfers is 3 years or 36 months immediately preceding the date the VA receives an original pension claim or a new pension claim following a period of non-entitlement.
Estate & Elder Law Planning for VA Benefits Eligibility
In addition to the necessary estate planning documents such as Durable Financial and Health Care Powers of Attorney, discussing an irrevocable trust with one of our attorneys is an important consideration in protecting assets from nursing home care and attaining VA Benefits eligibility.
Practical Takeaway
Medicaid and VA benefits serve different purposes, but both can be important parts of a long-term care plan. Medicaid is often the primary payer for nursing home care, while VA Aid and Attendance may help eligible veterans or surviving spouses with home care, assisted living, or nursing care costs.
Can a veteran or surviving spouse receive both VA Aid and Attendance and Medicaid at the same time?
Because the two programs serve different purposes — Medicaid typically pays for nursing home care, while VA Aid and Attendance can help with home care, assisted living, or nursing costs — families may be able to use both as part of a coordinated long-term care strategy, though eligibility for each is evaluated separately.
Put your VA benefits to work
Schedule a Strategy Session with our Pennsylvania estate planning and elder law attorneys today.
