The VA Pension benefit numbers just came out, increasing 2% for those veterans who qualify. The VA has many different programs, but two dealing with monthly payments. The first program for monthly payments is called "Compensation," which helps those injured while serving their country. The second program is called "Pension," which generally provides payments to help veterans and their dependents with high medical costs (very useful in the elder law arena). The following represents the maximum payments available under the Pension program.
Veteran with One Dependent
Basic Pension: $1,436/m
Housebound: $1,679/m
Aid and Attendance: $2,169/m
Single Veteran
Basic Pension: $1,096/m
Housebound: $1,340/m
Aid and Attendance: $1,829/m
Surviving Spouse of Wartime Veteran
Basic Pension: $ 735/m
Housebound: $ 898/m
Aid and Attendance: $1,176/m
This increase is good news for anyone looking to help an elderly or disabled veteran who served in an applicable time of war.
How can a veteran use these benefits?
Pension benefits are best used to help pay for an elderly or disabled veteran's out-of-pocket medical costs. For example:
Mom, age 78, is the unmarried surviving spouse of a wartime veteran. Mom needs in-home care to assist with her activities of daily living (ADLs) due to her failing health. In this scenario, mom may qualify for up to $1,176/m to assist with her in-home care costs.
Pension benefits can also be used to pay for the cost of an assisted living facility as well. I have written further about VA Benefits for the elderly on this webpage.
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