Funding Eldercare Can Be the Greatest Crisis a Senior Will Ever Face
Paying for the costs associated with eldercare can be the greatest crisis an aging person will ever face. When the need for care arises, we lose our grasp on the three most important lifestyle concerns we have as we age:
- Remaining independent
- Having enough money
- Maintaining good health
The costs associated with this care can wipe out a lifetime of savings, drain family resources, and destroy equity in a home.
It is surprising that roughly 1/3 of people over the age of 65 in this country have a potential for receiving a benefit. Less than 10%, however, of veterans or their survivors are actually receiving benefits.
Benefits for Veterans
The Department of Veterans Affairs offers a myriad of benefits to veterans. As a general rule, a veteran is defined as someone who served in the armed forces of the United States. Reservists and National Guard are generally not considered veterans for benefits purposes except under special conditions.
Most veterans are not aware of the eldercare benefits available through veterans health care, state veterans homes, home renovation grants, or from two disability income programs called Compensation and Pension. Veterans Pension, or more commonly known as the “Aid and Attendance Benefit”, is particularly useful to seniors who are incurring significant medical costs. This benefit can provide additional money to pay for home care, assisted living, or nursing home care of the veteran or their surviving spouse.
VA helps Veterans and their families cope with financial challenges by providing supplemental income through the Veterans Pension benefit. Veterans Pension is a taxfree monetary benefit payable to lowincome wartime Veterans and their survivors. Those will high medical expenses are also eligible.
Generally, for Veterans who served in World War II, the Korean Conflict, or the Vietnam era must have at least 90 days active duty during a period of war to qualify for VA Pension. In addition to meeting minimum service requirements, the Veteran must be:
- Age 65 or older, OR
- Totally and permanently disabled, AND
- Very low income, OR
- Paying for ongoing medical expenses.
We are dedicated to helping those who valiantly served their country in a time of need receive cash support or other services available from VA.
Benefits from the Department of Veterans Affairs can improve the dignity, financial staying power and well-being of veterans and their survivors.
“We are private practitioners and are not affiliated with the VA. Only those who are accredited by VA may be involved in the preparation, presentation, or prosecution of a claim for benefits. We do not charge a fee for these services.”
We will gladly provide you with the information and resources you need in order to help you receive up to $25,447 per year in additional income (tax free) to help you pay for Home Health Care, Assisted Living Care, or Nursing Home Care. We can even tell you over the phone if you are eligible.