Once the Income for Veteran’s Administration Purposes is calculated, the Special Monthly Pension amount can be properly calculated. If the IVAP is a negative number, meaning that the unreimbursed medical expenses are greater than the gross income for the household, the veteran, or veteran’s widow, will receive the full amount of the pension as listed in the last two blog posts.
If there is a positive IVAP, the amount of the IVAP is subtracted from the Special Monthly Pension amount to determine the amount of benefits that will be paid to the veteran or the veteran’s widow.
For example, if a veteran has a spouse, and one is disabled requiring regular aid and attendance, with a monthly IVAP of $640.00 per month, the math would look like this:
$2,019- $640= $1,379 in payout per month.
For a veteran’s widow, with no dependents, that is housebound and has an IVAP of $500 per month, the math would look like this:
$837- $500= $337 in payout per month.
