The VA Veterans Pension program provides financial assistance to low-income and low-net-worth wartime veterans who meet specific criteria. Additionally, there is a VA Pension program for the surviving spouse of a wartime veteran, which will not be discussed here but will be discussed in another article. There are three main options for the veterans pension: the basic pension, pension with housebound, and pension with aid and attendance. Each option offers different levels of financial support based on the veteran's circumstances.
VA Basic Pension
The basic pension is available to wartime veterans who have limited income and are either age 65 or older or are permanently and totally disabled.
Eligibility requirements include:
- Service : At least 90 days of active duty, with at least one day during wartime, and the veteran cannot have an Other Than Honorable, Bad Conduct or Dishonorable Discharge.
- Income limit : Countable income must be below the Maximum Annual Pension Rate (MAPR) limit set by Congress. For 2024, the MAPR for a single veteran with no dependents is $16,037.
- Net worth limit : As of 2024, the veteran's net worth, including assets and annual income, must not exceed $155,356. Net worth includes savings, investments and property (excluding the veteran's primary residence).
VA Pension with Housebound
The housebound pension is an enhanced pension available to veterans who are substantially confined to their homes due to a permanent disability.
Eligibility requirements include:
- Basic Pension criteria : Must meet the criteria for the Basic Pension.
- Housebound status : Must have a single permanent disability rated as 100% disabling and be substantially confined to their immediate premises as a result.
- Income limit : The MAPR for a veteran receiving Housebound benefits is $19,598 for 2024.
VA Pension with Aid and Attendance
The aid and attendance pension is for veterans who require assistance with daily living activities such as bathing, dressing and feeding.
Eligibility requirements include:
- Basic Pension criteria : Must meet the criteria for the Basic Pension.
- Need for Assistance : The veteran must be blind, living in a nursing home due to mental or physical incapacity, or require the regular aid and attendance of another person.
- Income limit : The MAPR for a veteran receiving aid and attendance benefits is $27,766 for 2024.
Simple example of VA Pension calculation
The VA calculates pension amounts by subtracting the veteran's countable income from their category's Maximum Annual Pension Rate (MAPR). For example, if a veteran qualifies for the Aid and Attendance pension with a MAPR of $27,766 and has a countable income of $12,000, the VA subtracts the income from the MAPR:
$27,766 (MAPR) minus $12,000 (countable income) = $15,766 annual pension amount
The VA divides the annual pension amount by 12 to determine the monthly award:
$15,766 ÷ 12 = $1,314.67 per month
This is the monthly pension payment the veteran would receive.
Conclusion
The VA Pension program is a valuable resource for wartime veterans and their families, offering financial support tailored to their needs. Understanding the different pension options, income limits, net worth limits, and how benefits are calculated helps veterans maximize their support.
If you are interested in volunteering to drive for the DAV Van, need assistance filing a VA disability claim, or have questions about federal, state, or local veterans benefits, please contact my office: Steven Miller, Monroe County Veteran Service Officer, 812-349-2537, smiller@co.monroe.in.us
This article originally appeared on The Herald-Times: Veterans with low income, are housebound or need daily assistance may qualify for funds
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