Veterans and their spouses may be eligible for the Aid and Attendance Benefit to help pay for long term care. This benefit can be a tremendous help for those struggling with the high costs of long term care. For 2015, the pension program will provide a maximum of $1,788 per month to a single veteran, $2,120 to a married veteran and $1,149 to the surviving spouse of a veteran. There are four major requirements that must be satisfied in order for veterans and their spouses to be eligible for this program.
- Service requirement. A veteran must have served for at least 90 days and been discharged honorably. At least one day of their service must have been during wartime.
- Need of care. The Veteran must be at least 65 years or older and require the aid and attendance of another person their activities of daily living.
- Asset limitations. Asset limitations vary for each individual. Assets that are not counted towards your limitations are your house and attached land, one car, household goods, personal belongings, funeral contract and limited liquid assets.
- Medical Expenses vs. Income. Total medical expenses must come close to or exceed the Veteran’s total income such as Social Security or pension income. Medical expenses can be a very broad category and can include prescriptions, cost of a long term care facility, insurance premiums, co-pays, and Medicare Part B premiums.