Issue 11.11
Why is it important for government agencies, care providers or eldercare advisers to know about Pension?
The national care planning Council estimates that approximately 11.5 million seniors — about 33% of all people over 65 — could qualify for Pension or Death Pension by meeting the abbreviated explanation below. That’s how many war veterans or their surviving spouses or their living spouses there are in this country. Unfortunately, few people know how to get this benefit and currently only about 543,000 individuals are actually receiving it. This represents only 4.7% of those who could be eligible.
What is Pension?
Improved Pension and Death Pension are income benefit programs available to veterans or to the single surviving spouses of deceased veterans. The veteran had to have served on active duty at least 90 days with one of those days during a period of war. Service in combat is not required, only that the veteran was in the service during wartime and was discharged honorably.
In order to receive the benefit, a veteran’s household must meet the criteria above as well as meeting an income and an asset test and, in most cases, a medical needs test.
If a potential applicant were to call a local regional office, the Veterans Service Representative on the phone would typically ask about the amount of household income, the amount of assets and the medical status. The VSR would check his or her table and if the household income or assets exceeds the MAPR for that particular type of application category, the person calling the office would probably be told there is no benefit. In many cases this is simply not true. Keep in mind in most cases the VSR’s are not be aware of special medical deductions or the ability to reposition assets and/or to set up other estate planning techniques to qualify a veteran’s household for a pension benefit.
For additional information on this program you call our office to reserve a seat at one of our upcoming Free Educational Workshops. Call Senior Advantage 435-986-9222 veteranad.com