As we age, planning for the future often means preparing for potential long-term care needs. Today, about 6.9 million Americans use regulated long-term care services such as nursing homes, assisted living, and adult day care. In fact, 70% of people turning 65 will need some form of long-term care during their lifetime. By 2030, the population aged 65 and older is projected to reach 71 million, and nursing home residents could increase by 75% to 2.3 million.
One of the greatest myths about long-term care costs is that Medicare will pay for them. Unfortunately, Medicare is designed for short-term skilled care following hospitalization—not for ongoing custodial care. Many Americans discover this too late, when health conditions make coverage costly or even unavailable. Once diagnosed with a serious medical condition, obtaining affordable coverage—or any coverage at all—can become impossible. That’s why planning during your healthy years is essential to safeguard what we call your protected years or second retirement.
It is important to review all benefits available to you and estimate your potential care needs. Our goal is not simply to sell you a product, but to create a personalized plan of action that addresses your unique situation and helps you prepare for the years ahead. If you are a Veteran or the spouse of a Veteran you have a unique opportunity to take full advantage of your service and receive the Aid and Attendance benefit.
This is a benefit for Veterans or Surviving Spouses who meet eligibility requirements regarding (1) military service, (2) net worth limitations, (3) disabilities and level of care, and (4) income. The purpose of this benefit is to provide some financial assistance when a veteran or their spouse’s health declines health declines and their medical expenses increase. When a person qualifies for this benefit, the VA considers all sources of income and deducts eligible medical expenses. The VA then supplements income to bring it up to income levels as set by Congress.
A Veteran with 90 days active duty, one day during a period of war, and anything but dishonorably discharged. A surviving spouse of a War Time Veteran must have been married to a veteran at the time of veteran’s death.
While the VA does set limitations on assets, this should not discourage you from calling and discussing your unique situation with us. The information is free and it is our goal to educate our veterans in the benefit available to them.
They must require the attendance of another person to assist in at least two activities of daily living: eating, transferring, walking, bathing, dressing, or toileting. It also includes individuals who are blind or patients in a nursing home because of mental or physical incapacity.
The benefit is available tax free to help assist with the cost of assisted living.
| Benefit Level | Maximum Monthly Benefit | Maximum Annual Benefit |
|---|---|---|
| Single Veteran | ||
| Married Veteran | ||
| Spouse needs care, living Veteran does not | ||
| Surviving Spouse* |
*Death pension plus aid and attendance allowance benefit
Please call (602) 288-9094
It takes approximately 4 months to actually begin receiving payment from the VA. However, the VA pays retroactively to the first day of the month following the date the application is received.
Did you know that the surviving spouse did not have to be married to the veteran at the time the veteran served?
However, they had to be married to the veteran at the veteran’s passing. IF they remarried, it may affect their ability to apply.
If a surviving spouse was married to more than one veteran, we will apply on the last veteran’s service record.
Special documents needed for this type of application (copies are acceptable):
The pension for the surviving spouse is currently $1,557.00/month tax-free.
Income, for Veterans Administration purposes, is Social Security (SSI and SSD) and retirement pension. (Note: IRAs and investments, including checking and savings, are considered assets for calculation purposes and do not need to be counted here)
In order to receive the entire pension award, the applicant must be spending their income on unreimbursed medical expenses. (On the initial application this does not include co-pays or prescriptions)
The rent in assisted living or independent living with on-site caregivers qualifies to reduce the income to zero.
Please note that when a client still resides at home, their entire income may only go toward unreimbursed medical expenses (this does not include rent or mortgage, utilities, or food) to receive the entire pension. It is possible to receive a portion of the pension and, as care increases, request the pension award be increased as well.
With over 65 years Of Combined Experience Working with The Veterans Administration, State Medicaid Agencies, Legal and Medical Records and Financial Institutions.
