are these countable assets and expenses?

[Caroliso]

I've read over quite a few posts on the formula for counting up income and expenses, and have drawn up a preliminary spreadsheet.  Some specific questions:

1.  are home accommodations (grab bars, etc.) a countable expense? (I suspect not).
2.  Is the time paid for a geriatric case manager a countable expense?
3.  Is any distinction made between caregiving expenses while I work vs. caregiving expense for respite (me going out with friends, etc.). In other words, can I count both?
4.  What if my Vet's countable expenses exceed his countable income?
5.  Are collectibles (coins and stamps) to be counted as assets?  This is a new wrinkle I just thought of and a pain in the **#@.  My dad has been collecting coins and stamps for 50 years and we've procrastinated on getting them valued.  I don't even know where to begin on that....

TIA

[Caroliso]

I see a few views but no responses.  Is there somewhere else I should look/call to find the answers to these questions?  Any help is appreciated.  Thanks.

[vetadmin]

You need to work in the guidelines of the following, and the stamps are not counted.

To qualify medically, a War-Time Veteran or surviving spouse must need the assistance of another person to perform daily tasks, such as eating, dressing, undressing, taking care of the needs of nature, etc.  Being blind or in a nursing home for mental or physical incapacity, or residing in an assisted living facility also qualifies.

To qualify financially, an applicant must have less than $80,000 in assets, EXCLUDING their home and vehicles.

What you need to determine is what is "Countable" income after backing out all allowable expenses.  Please see the following to help you determine that figure.

The VA suggests that its adjudicators use a certain amount of personal judgment on this issue. But the bottom line is: does it realistically appear that the veteran or surviving spouse may outlive their assets? If so, they are likely eligible.

Do NOT count their residence or vehicle when estimating net worth.

Do NOT count a life insurance policy (because the policy holder must be
deceased in order to benefit from it).

DO count CDs, annuities, stocks, bonds, savings, checking, IRAs, Keogh,
etc.

DO count any assets owned by the spouse as well.

As a rule of thumb, assets should not exceed $80,000. That amount drops
depending on the age of claimant.

List below the estimated ANNUAL income of the veteran or surviving spouse:

 Estimate total income (If married include spousal income): ______

All income must be included. This includes social security, pension,
interest income, dividends, income from rental property, etc.

If the veteran is married, then any spousal income must also be included.

List all unreimbursed, recurring health care expenses:

 This includes:

 Assisted Living costs (per month): _________________

 Nursing Home costs (per month):________________

 Home Care service (per month):_______________

 Health Insurance premium (per month):_______________

 Medicare premium (per month):_________________

 Regular (unreimbursed) prescriptions
 (per month & verifiable through a pharmacy print-out): _____________

 TOTAL Expenses per month: __________
 (multiply x 12 to get total annual expenses)

Subtract your total annual health care expenses from your total annual
income and write the amount here: _____________. This is your "countable" income

[Caroliso]

Thanks, I had seen this list and the answer wasn't clear on some things.  But I've concluded:

geriatric case manager not includable expense
home accommodations not includable
caregiver expenses are includable regardless of why they are there to cover as long as my dead needs 24/7 care, which his doc will certify.
stamps are coins are not includable as assets, that goodness.

Thanks for your help, VetAdmin.

[vetadmin]

You don't want to break down the caregiver expenses to include you going out to dinner.  Whatever the costs for care is, that is the amount.

You're welcome.