It is a challenge to keep up with US Military benefits as they are always changing, and many veterans miss out on what can be life-changing aid. Many wartime veterans receive a disability pension due to injury. But did you know that wartime veterans age 65 or more may qualify for a VA Pension without being disabled? The Veterans Administration qualifications for this type of VA Pension include:
- Your military service discharge is deemed anything other than dishonorable conditions,
- Your service was 90 or more active duty days with at minimum one day of service during a period of wartime.
- You are age 65 years or older,
- Your countable family income is below a threshold set every year by law.
The financial information chart above, published by military.com, is commensurate with the numbers posted on the Veterans Administration website. Be aware; there is a look-back period that will determine if you have transferred assets in the three years previous to filing your claim. There would be a penalty period rate of $2,266 if you did move assets for less than fair market value during this period.
The VA will pay a qualified veteran the difference between personal countable family income and the yearly income limit category into which they fall. Payments are made in 12 equal installments per month and rounded down to the nearest dollar. As an example, a single veteran with a $5,000 annual income qualifies for an annual limit of $13,752. Subtracting that veteran’s income from the income limit yields an annual pension rate of $8,752, which translates into a VA monthly pension check of $729.33 or $729.00 rounded down to the nearest dollar value.
The VA website recognizes the following wartime periods that determine if your service was during an eligible wartime period:
- World War II (December 7, 1941, to December 31, 1946)
- Korean conflict (June 27, 1950, to January 31, 1955)
- Vietnam War era (February 28, 1961, to May 7, 1975, for Veterans who served in the Republic of Vietnam during that period. August 5, 1964, to May 7, 1975, for Veterans who served outside the Republic of Vietnam.)
- Gulf War (August 2, 1990, through a future date to be set by law or presidential proclamation)
In addition to VA pension, wartime Veterans may also qualify for an additional allowance called Aid and Attendance. To qualify medically for VA Aid and Attendance, one of the following must be true:
- Another person is required for you to perform daily activities such as bathing, dressing, and feeding, or
- You spend a large portion, or all of your day in bed due to illness, or
- Due to a loss of mental or physical abilities related to a disability you are a patient in a nursing home, or
- Your eyesight is severely limited (wearing glasses or contacts your eyesight is 5/200 or less in both eyes or your concentric contraction visual field is 5 degrees or less)
There are similar benefits available to surviving spouses of wartime Veterans. If you are a wartime veteran or the surviving spouse of a wartime Veteran, we can help you determine whether you could qualify for pension benefits.
While eligible veterans or surviving spouses can apply for benefits on their own through the www.va.gov website, it is advisable to seek the advice of counsel before applying. There may be planning options available to avoid a penalty period and speed up the qualification process. If you would like to explore whether you might qualify for VA pension benefits, please give us a call.