The VA Pension, also known as Veterans Administration Improved Pension with aid and attendance, is a program of the VA that provides assistance with the cost of long term care. This program provides monthly cash payments to veterans and their surviving spouses that can be used to cover care costs. For 2015, a surviving spouse can receive a benefit of $1,159 a month and a veteran can receive $1,788 a month.
One of the main advantages of VA pension is that it pays money directly to the veteran or surviving spouse, rather than only covering specific services. These payments can be used towards care in independent living homes, assisted living facilities, nursing homes, and at home care costs. The type of care that can be obtained is not tightly restrict as with other programs that cover the cost of long term care, such as nursing home Medicaid. Many clients can combine the receipt of VA pension with Social Security and other sources of funds to obtain high quality care that fits their needs and preferences.
As with many programs of the federal government, there are asset and income tests that must be met to qualify for VA pension. More information on these tests can be found on the veterans benefits tab on http://www, Qualifying for such benefits is often complicated, so the advice of an experienced elder law attorney should be sought in undertaking such planning.. an elder law attorney can explain the suitability of each program and balance the requirements of each programs with those of other programs and tax considerations.