Page 31 - Scene Magazine 42-10 October 2017
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savings, checking, IRA’s Keogh, etc. The home (if the Veteran or his spouse is still residing there), car and life insur- ance are excluded. A&A is different be- cause there is currently no “look-back” period for divesting (giving away) your assets. Getting the advice of a qualified elder law attorney might be a valuable first step before divesting of assets.
4) Income Eligibility – A Veteran’s income is measured after medical ex- penses are subtracted. Medical expens- es include: assisted living and nursing home costs, home health care services, health insurance premium, Medicare premium, regular (unreimbursed) pre- scriptions, and some over the counter items, (depends, etc.) Sources of income include Social Security, pension, interest income, dividends, income from rent- al property, annuities, investments, etc. When the Veteran’s (and/or spouse’s) income is being outweighed by his or her medical expenses, he or she is in- come-eligible for A&A.
This benefit pays for home care, assisted living and adult foster care expenses, where traditionally, people would have to go into a nursing home to have the government (Medicaid) help pay for their care. This benefit is a great alternative to Medicaid or even long- term-care insurance (for those who are not insurable).
If you believe that you or a loved one might qualify for this benefit contact the Veterans Administration at 1-800-827- 1000, the Calhoun County Veterans Af- fairs office located in the Toeller Build- ing at (269) 969-6735, or an elder law attorney.
Many Assisted Living Facilities will work with you if they know the resident qualifies for A&A. Fortunately, all ben- efits are retro-dated back to the original filing date, so be sure to ask if this option is available.
MICHAEL E. DOWNING REALTOR
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