Long-term care costs are a pressing concern within the elder law community. The majority of people are going to need assistance with their day-to-day needs at some point in time, and long-term care is very expensive.
Unfortunately, Medicare does not help with custodial care costs.
If you are a veteran of the United States military, there is a very valuable benefit that you may be able to qualify for if you need long-term care at some point in time. This benefit is called the Veterans Aid and Attendance Special Pension.
You are probably aware of the military retirement pension that veterans earn after 20 years of service. The Veterans Aid and Attendance Special Pension is something that is different.
The length of service requirement is not as stringent for this benefit. To qualify for the Veterans Aid and Attendance Special Pension, you must have served for at least 90 days, and at least one of the days must have started or ended during a time of war.
In addition to the length of service requirement, you must be able to prove that you do in fact need assistance with your activities of daily living. Medical proof must be provided when you are applying for the pension benefit.
The Veterans Aid and Attendance Special Pension is intended for people who have some modicum of financial need, so there is an asset limit. Your home does not count when the Veterans Administration is determining your eligibility, and your vehicle does not count. As a general rule of thumb, the asset limit for countable assets is $80,000, but each case is decided on an individual basis.
At the present time, a single veteran who is qualified for the Veterans Aid and Attendance Special Pension can receive as much as $1758 each month. A married couple can receive a pension benefit of $2085 per month.
The surviving spouse of an eligible veteran can also qualify for the Veterans Aid and Attendance Special Pension. The monthly benefit for a surviving spouse is $1130.
Many people are not aware of the existence of the Veterans Aid and Attendance Special Pension, but it can certainly come in handy if you are a wartime veteran who is in need of living assistance.
Download Our Special Report
In this post we have provided some basic information about the Veterans Aid and Attendance Special Pension. If you would like to learn more about this valuable veterans benefit, download our special report on the subject.
The report is being offered free of charge at the present time, and you can obtain access through this website. To get your copy of the special report, click this link and follow the simple instructions: Veterans Aid and Attendance Special Pension.
- A Trust Can Facilitate Responsible Pet Ownership - September 13, 2022
- Life Care Planning, Aging in Place, and the Medicaid Waiver - August 30, 2022
- What Is a Stepped-Up Basis? - August 16, 2022