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Qualifying
for benefits from the Department of Veterans Affairs (VA) can be as difficult as qualifying for Medicaid long
term nursing care benefits.
A married veteran can receive up to $1,427.16 per
month for housebound assistance and up to
$1, 842.75 per month for aid and
attendance for assisted living or nursing care. Widows(ers) are eligible for up
to $763 and $998 per month, respectively However,
complex rules prevent many veterans from qualifying without spending down most
of their assets. Avoiding this spend down requires specialized knowledge of
ever changing rules and regulations. To complicate the issue more, veteran’s
benefits planning can run counter to Medicaid eligibility rules.
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Many families are determined ineligible after an
administrative review is held. One reason may be because of excessive net worth
between $20,000 and $80,000.
The steps to reduce the excess can later affect
ones eligibility for long term Medicaid benefits if nursing home care is needed
in the future. A planning specialist should inform the family of the effects
veterans benefits planning will have on eligibility for Medicaid benefits.
VA
improved pension benefits for Veterans and widows of Veterans (for non-service
related medical needs) using the following four basic tests for eligibility:
1) Military service
during any defined period of war
2) Medical need
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3) Income limit
4) Net worth
limit
If nursing
home care is later needed, Medicaid will, in most cases, pay a larger portion of
the total monthly care cost, but each situation should be analyzed
individually.
For your
FREE brochure “2012
Veterans Benefits at a Glance” contact The Ladyman Law Office for Senior
Planning Services in Austin at (512) 441-2825 or Toll Free at (888) 439-5900,
or complete our Request
for Information
form.
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Medicaid Spend Down