Financial Considerations

Financial Information:

The Resident/Patient or applicant, or the legal representative must disclose to the Iowa Veterans Home all sources of income, such as pensions, social security, private or government annuities, rents, farm income, interest, etc.  Assets, such as cash, bank accounts, savings and loan accounts, bonds, real estate and investment, must be listed.  The value of the applicant's homestead (as defined in the IAC) must be shown; however, it is not counted as an asset and can retain its exempt status providing conditions are met as referenced in the Iowa Administrative Code.  Failure to make complete and accurate disclosure of income and assets is grounds for dismissal from the Home.

Health and Nursing Home Insurance:

All applicants shall inform the Veteran's Home of any health or nursing home insurance coverage and shall apply for Medicare if not already covered by that program.  The Veterans Home will pay the Medicare premium upon billing by Social Security Administration.  The applicant will be responsible for payment of any other premiums.  Any insurance payments shall be applied toward the cost of medical care before the Iowa Veterans Home funds are expended.