Can veteran’s children be reimbursed by veteran with retroactive payments when approval occurs?
Prior to approval of Veteran’s Benefits i.e. during claim approval process, the children of a veteran are paying for a caregiver. Can they be reimbursed by claimant with the retroactive payment when approval occurs?
The claimant and children could execute a promissory note. Therefore, the children’s payments are a loan. Consequently, the children are repaid when veteran’s benefits are approved and received. (Potentially, important for Medicaid, to avoid transfer penalty) However, only what the claimant pays is considered UME, so the answer is it depends.
Besides, some companies provide non-secured loans to pay for the care; then they are repaid, with interest. Also, a reverse mortgage may work, but for the cost of the fees etc.
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