Thousand’s of Veterans Are Missing Out on Free Money
By: Robb Beltran | Posted: 03rd December 2008
If you are a wartime veteran or a widow(er) of one, you could be eligible for up to $1,842.75 per month. Tax-free. The problem is you probably haven’t heard about this little known benefit. It’s called the Veteran’s Improved Pension Benefit, which is a non-service connected benefit and sinfully enough it has been available for Veterans since November 1, 1951.
According to a VA estimate, only one in seven veteran widows who probably could qualify for the pension actually get the monthly checks. What’s more, participation in the program is falling, according to a Knight Rider analysis of VA records.
As a Gulf War veteran and former television reporter, I wanted to find out why. I learned about the benefit after watching a special NBC report, but it is obvious many veterans didn’t. It disturbed me that these men and women, who served their country, were somehow being neglected of benefits in which they earned simply because they didn’t know about it. According to one VA report, “There are simply too many possible candidates for the VA to not only locate, but to qualify.”
The problem is many of the veteran’s who do know about the benefit are simply under
the impression they have to be impoverished or disabled to receive the benefit and don’t apply for fear of being declined. It is simply not true.
Although there are requirements they are often misconstrued. Here are the basics:
To meet the military qualifications, a Veteran has to have served 90 days active duty, (one of which was during wartime), have a discharge of any kind other than dishonorable, and be either age 65 or disabled. In addition, the Veteran or his widow must also meet other means testing criteria for their income and assets. When properly understood, neither of these is as exclusionary as they first appear.
To qualify financially, an applicant must have less than $80,000 in assets, EXCLUDING their home and vehicles. This is a major deterrent for many, but also the most misunderstood. As Americans we all know what income is. But actually, very few of us know how the Department of Veterans Affairs considers income for this benefit. Income minus UME = IVAP! Indeed they call it IVAP or Income for Veterans Affairs Purposes, which is income minus un-reimbursed medical expenses (UME). Many do not expect to receive a benefit based in part upon their un-reimbursed medical expenses. But there is for our Veterans and their widows.
Imagine if you as a veteran could receive tax-free money every month for life. This benefit could help you pay anyone including your child for home care. It can also be used to help you pay for professional care in the home, for assisted living, or for nursing home fees and other un-reimbursed medical expenses.
Yes it may take up to six months before a veteran is approved and it may be a pain to fill out the forms properly and put all your ducks in a row, but imagine getting an extra $1,843 a month tax-free. If you qualified for this benefit at age 65 and lived another 20 years it could garnish you and your family more than $442,320 in tax-free benefits. It’s simply a win-win situation for veterans to at least try and qualify.
If you think you might be able to take advantage of this benefit, please visit wwww.VBUSA.org for a more detailed explanation of the benefit, and how it works.
About the Author
Occupation: Life Changer/Dream Maker
Robb Beltran is a writer, recruiter, financial consultant, Gulf War Veteran, social media consultant & real estate investor. Robb believes the key to a successful life is education especially when it comes to living healthier and wealthier.
www.robbbeltran.com
www.belstarfinancial.com
www.vbusa.org
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Tags: nbc, fear, checks, assets, participation, men and women, november 1, widows