The Mount Clemens veterans benefits attorneys here at The Elder & Disability Law Firm can help you understand how to cope with long-term care costs if you are a former military service member. There are various different ways to proceed, and the ideal approach will depend upon the circumstances. This is why personalized attention is so very important, and this is exactly what you receive when you engage our firm to provide you with assistance.
Many people are not aware of the existence of a certain type of pension that can be very useful for veterans that need help with their day-to-day needs. The benefit that we are referring to is the Veterans Aid and Attendance special pension. Most people, 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 entirely different.
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 also a discharge status requirement. Dishonorably discharged veterans are not eligible for this benefit.
Of course, since the pension is intended for people that need help with their activities of daily living, you have to provide medical proof that you do in fact have these physical limitations. We should point out the fact that this special pension could be utilized to defray costs associated with full-time residence in an assisted living community or nursing home, and the funds could be used to pay for in-home care.
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. There is also an income limit that can come into play. If you make more than the amount that you could qualify for, you would not be eligible.
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.
Don’t Be Overconfident
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.
Consult With One of Our Mount Clemens Veterans Benefits Attorneys!
If you would like to discuss a plan for aging with a knowledgeable member of our firm, we would be more than glad to meet with you. Feel free to give us a call right now at 586-493-7661 to set up a consultation, and you also have the option of sending us a message through the contact page on this website.