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Veterans benefits, who qualifies for them?
Called the "aid-and-attendance" pension benefit, this entitlement pays up to $1,470 a month to a qualifying veteran, $945 a month to a surviving spouse, or $1,743 a month to a couple to help pay for the cost of nursing home, assisted living or adult family home care.
To qualify, veterans must:
- Have served during time of war, though they didn't have to be in combat
- Have no more than $80,000 in assets, not counting a family home, car and personal belongings
- Prove financial need by demonstrating expenses exceed income
- Show they need help with their activities of daily living
The monthly benefit pays up to:
- $1,470 to a veteran
- $945 to a surviving spouse
- $1,743 to a couple
Even if a veteran has passed away, a surviving spouse who hasn't remarried still can qualify for this benefit.
The aid-and-attendance benefit dates back decades, but only with the growth of options such as assisted living and residential care homes have people recognized the value in obtaining this financial assistance.
People need not exhaust their assets, as they must do before getting help from Medicaid. A veteran may have up to $80,000, and a home, car and personal possessions aren't counted.
Also, veterans are allowed to implement strategies of financial planning to transfer assets - typically to family members or to charity, without disqualifying themselves from this benefit.
A physician's evaluation must confirm the older adult can't live alone.
The biggest drawback to the benefit, according to seniors and their families, is the application process. Applications typically take four to six months for the Department of Veterans Affairs to process, assuming a senior has submitted all the required forms and answered all the questions. Once a pension benefit is approved, though, it's retroactive to when the senior applied.
As many as 2 million people may be missing out on the benefit, according to a 2004 study prepared for Veterans Affairs. Only one in four eligible veterans, and one in seven surviving spouses, are collecting a check, it said.
The good news is that knowledgeable Veterans Benefits Specialists are available in our community.
Rick Kamenshine, Benefits Specialist 866-361-0138
Serving the Greater Puget Sound
There is NO FEE associated with the help provided to you.
Last update: 2007-05-05 22:06
Author: Tech Support
Revision: 1.1
