Living assistance is very expensive, Medicare won’t pay for it, and of course most senior citizens are living on a fixed income. This is not the best combination of circumstances.
People who have served in the military may be able to tap into a benefit that they have earned to help them address the expenses that they may incur if they need help with their day-to-day needs. This benefit is called the Veterans Aid & Attendance special pension.
To qualify you have to be able to prove that you do in fact need living assistance either in your own home or through residence in a nursing home or an assisted living community. You are required to provide the necessary medical documentation.
You also have to prove that you have some degree of financial need. However, your vehicle and your home are not counted as assets when your eligibility is being determined.
The length of service requirement is surprisingly modest. You only have to have served for 90 days at minimum with at least one of the days being served during a time of war.
Many veterans who need help with their day-to-day needs may also qualify for Medicaid, the government program that does pay for long-term care for seniors.
Both veterans benefits eligibility rules and those of the Medicaid program are rather complex. It is best for veterans to go forward with the benefit of professional guidance. If you are interested in gaining an understanding of what you may qualify for and how to proceed while seeking eligibility contact our firm for a free consultation.
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.