Veteran's Aid and Attendance Benefits

Aid and Attendance is a special pension benefit offered by the Department of Veterans Affairs (VA) created to help veterans pay for in home care, an assisted living facility or nursing home.  As a prerequisite, the veteran must generally meet certain requirements:

Service Requirements – must have served at least 90 days of active military service, one day of which was during a period of war, and must not have been dishonorably discharged.

Disability Requirements – must require the regular assistance of another person to perform everyday functions and activities that people usually do without help; be bedridden or need help to adjust to special prosthetic or orthopedic devices; or have a physical or mental injury or illness that requires regular assistance to protect them from hazards or dangers in their daily living environment.

Income and Asset Limitations – must show that, excluding the value of the family home, the household furnishings, and one motor vehicle, total assets are valued at $80,000, or less, and monthly income is less than unreimbursed medical expenses.

In 2009, a single veteran who is eligible is entitled to a maximum monthly benefit of $1,645, a married veteran is entitled to $1,950, and a surviving spouse of a veteran is entitled to $1,057.  (Additional details about the Aid and Attendance program, as well as other veteran’s benefits, can be found on the VA Benefits website at http://www.vba.va.gov/VBA/.)

If you are considering availing yourself of these benefits, please consider consulting a professional who is familiar with how these benefits work, especially if you are contemplating transferring assets into a Veteran’s Benefit Trust, annuity or any other tool to affect eligibility for Aid and Attendance.  Naturally, you should consider other tools for planning your long term care needs, including private long term care insurance.