Pension. Sue Kearney. NSO Training March 2012 Orlando FL 1

Transcription

1 Pension Sue Kearney Orlando FL 1

2 Pension What is Pension? Eligibility War Periods Income Determination & Net Worth Care & Feeding of a Pension Orlando FL 2

3 Pension Improved Pension, or Live Pension or Non-Service Connected Pension or Pension for Veterans 38 CFR 3.1 (l) (u) (v) & (w) Orlando FL 3

4 What is Pension? Benefit payable to Veterans of period(s) of war because of non-service connected disability or age Income based program to ensure a basic standard of living for eligible veterans & dependents (Sec. 101 (15)). Orlando FL 4

5 What is Pension? MAPR Maximum Annual Pension Rate If you are a veteran... $12,256 medical expenses must exceed 5% of MAPR ($612) With one dependent $16,051 medical expenses must exceed 5% of MAPR ($802) Orlando FL 5

6 Eligibility enlistment prior to 09/07/1980 War time service Honorable discharge Over 65 or P&T disabled Served at least 90 days active duty Income under a certain limit Net worth is not excessive Orlando FL 6

7 Eligibility enlistment after to 09/07/1980 War time service Honorable discharge Over 65 or P&T disabled Served at least 2 years active Income under a certain limit Net worth is not excessive Orlando FL 7

8 Eligibility VA assumes P&T if the veteran: Is a patient in a nursing home for long-term care OR Receives Social Security Benefits for disability OR Is 65 or older Orlando FL 8

9 War Periods WWII: 07/07/ /31/1946 Korea: 06/27/ /31/1955 Vietnam: 08/05/ /07/1975 a beginning date of 02/28/1961 for in country service 38 CFR 3.2, 38 U.S.C. 101(29) Gulf War: 08/02/1990 -? 38 CFR 3.2, 38 U.S.C. 101(33) 38 CFR 3.3 (a) (3) Orlando FL 9

10 What Do We Do? #1 Freddy Fellow served in the Army 01/03/ /17/1947. Date of birth 10/10/1927 Honorable discharge No service connected disabilities DMII, Hypertension Orlando FL 10

11 What Do We Do? #2 Bobby Buddy served in the Army 01/01/ /23/1980 Date of birth 05/12/1958 Honorable discharge No service connected disabilities Rt leg amputation above the knee, DMII Orlando FL 11

12 Income Inclusions Wages Retirement & Social Security (NOT SSI) Interest & Dividends Gambling Gains Unemployment Orlando FL 12

13 Income Exclusions Welfare, SSI (Supplemental Security Income, Gifts, Insurance, Inheritance Education expenses of vet, spouse, child Income tax refunds Profit from sale of property Interest on an IRA 38 C.F.R Orlando FL 13

14 What Do We Do? #3 Freddy receives $10,000 from Social Security and $4,000 from his Acme Retirement. Not married Freddy sold his house for $100,000 and bought a condo for $95,000 Orlando FL 14

15 Net Worth Are the veteran s resources sufficient to meet basic needs without VA assistance? No definite figure When Net Worth exceeds $80,000, VA is required to make an administrative determination as to the ability to provide for the maintenance of claimant 38 CFR Orlando FL 15

16 Net Worth Market value of all real estate & personal property owned by claimant Not including primary residence, furnishings, & car Stocks, bonds, & bank accounts Investment property (art, gold, coins, antiques) Orlando FL 16

17 What Do We Do? #4 Freddy has $5,000 profit from sale of home $12,000 in a Money Market Account $15,000 insurance benefit when his brother died earlier this year Orlando FL 17

18 Unreimbursed Medical Expenses UME Allow $500 per person OTC, all Rx Medicare ($99.90) Medical Expenses, Adaptive Equipment, Insurance Premiums, Nursing Home, Adult Day Care, Continuing Medical Expenses Co-Pays, Mileage UME - (MAPR x.05) Orlando FL 18

19 Unreimbursed Medical Expenses UME Purpose Amount paid Date paid Name of provider For whom paid If missing VA must develop! Orlando FL 19

20 Pension Benefit Formula MAPR [(IVAP-(UME-(MAPRx.05))]- ) = BENEFIT Compute IVAP, Compute UME Multiply MAPR x.05, Subtract from UME IVAP-UME less 5% of the MAPR = X MAPR X= benefit Orlando FL 20

21 What Do We Do? #5 $500 in OTC (annual) from ABC Pharmacy $99.99 Medicare (monthly) $2800 Health Insurance (annual) XYX Ins. $50 Co-pays for Rx (monthly) ABC Pharmacy $40 Co-pays Dr. Appt, (monthly) Orlando FL 21

22 Pension Claim , Claim , Private Provider , Nursing Home, A&A , Exam for A&A, HB c, Dependents EZ, Fully Developed To PMC: Philadelphia, Milwaukee, St. Paul Orlando FL 22

23 Care & Feeding of a Pension Eligibility Verification Forms (EVR) , Medical Expense Report Orlando FL 23

24 Pension any Questions? Orlando FL 24