Our Mount Clemens veterans benefits attorneys can help you understand how to deal with assisted living expenses if you are a veteran. There are various different possibilities, and the best approach will depend upon the circumstances. This is why personalized attention is so very important, and this is exactly what you will get when you speak with one of our Mount Clemens veterans benefits attorneys.
Many veterans don’t know about a certain type of pension that can be very useful for former service members that need help with their activities of daily living. The benefit that we are referring to is the Veterans Aid and Attendance special pension. Most of us, and all veterans, know that there is a military retirement pension that former service members qualify for after 20 years of active duty. This Veterans A and A special pension is something that is a separate benefit.
Unlike the retirement pension, you do not have to spend a significant portion of your career in the military to gain eligibility. To qualify for the Veterans Aid and Attendance pension, you need a minimum of 90 days on active duty with at least one of these days being during a time of war. There is an honorable discharge rule. Dishonorably discharged veterans are not eligible for this benefit.
Since the pension is intended for people that need help with their day to day needs due to a disability, you have to provide medical proof that you do in fact have physical limitations. Funds received from this special pension could be utilized to help with costs associated with residence in a nursing home or assisted living facility, and the funds could be used to pay for an in-home nurse or health aide.
The benefit is only available to people with a certain level of financial need. Your home and your motor vehicle are not considered to be countable assets, but when you submit your application, the evaluators will look at all of your other resources to determine whether or not you need the extra financial assistance. As a basic rule of thumb, the limit on countable assets is $80,000. There is also an income limit that applies to this pension.
If you are in fact deemed eligible for the Veterans Aid and Attendance Special Pension as a single veteran, you could qualify for a monthly benefit of $1830. A veteran with a spouse could receive $2170 every month, and the surviving spouse of a qualified veteran could draw a monthly benefit of $1176. Two veterans that are married to one another could receive a monthly payout of just over $2900.
Most Seniors Will Need Living Assistance
Whether you are a veteran or not, you should definitely brace yourself for potential future long-term care costs. According to the United States Department of Health and Human Services, seven out of every 10 people that are attaining senior citizen status will someday need living assistance.
If you are thinking that Medicare will pick up the tab, we have some bad news to deliver. The Medicare program will pay for convalescent care after an injury or illness, but it will not pay for custodial care. This is the type of care that you would receive if you were permanently unable to take care of all of your own daily living activities.
There are strategies that can be implemented to address these costs. If you are a veteran, the Veterans Aid and Attendance Special Pension can be part of the plan. For others, and for some veterans, Medicaid will be the solution. This jointly administered federal/state government health insurance program does pay for long-term care.
Since it is only available to people with limited resources, you have to divest yourself of assets at least five years before you apply to gain eligibility. Because of this five-year look back period, it takes careful advance planning to gain eligibility at the right time without losing anything in the process.
Speak With a Mount Clemens Veterans Benefits Attorney!
If you would like to have a conversation with one of Our Mount Clemens veterans benefits attorneys, we would be more than glad to accommodate you. Feel free to give us a call right now at 586-493-7661 to set up a consultation, and you can alternately send us a message through our contact page.