As it turns out, the majority of seniors qualify for Veteran’s Aid benefits because they hail from a generation where many more people served in the military. This not only includes the veterans themselves, but widows of veterans, too. For this reason, many people don’t even think to ask about what VA benefits may be available to them. Keep reading, and we’ll explain what some of the actual criteria are.
Veteran’s Benefits for Senior Living
It’s actually easier to qualify than you think. Many people easily qualify even without the slightest suspicion that they would. Here’s the breakdown:
- If you have served a minimum of 90 days in the service, and one of those days was during wartime, you would qualify based on that criteria. You don’t even have to have seen any action.
- Now, you have do have to have less than $10,000 in assets and your income has to be less than your medical expenditures at the new assisted living community. For most people, this is another easy criterion to meet. Even if you have more assets, there are VA compliant investments that the VA doesn’t take into consideration, so moving money is an option.
- You also have to be asking for two activities of daily living to be taken care of at the community, such as bathing assistance, transferring, dressing, continence management or medication management.
Now hold on… don’t rush to your local VA office just yet!
It is our experience that when people go through the VA office, they often receive less in benefits. While you might think they would help you max out, in reality their practice has been to get people less benefits. Sometimes the VA might even tell you don’t qualify, when you actually do.
Fortunately, there are people out there who can get you the maximum veteran’s benefits for senior living and help you qualify. This is yet another perk of going through a local referral service. These people network locally and oftentimes work with people who know how to navigate the system, getting you maximum benefits.
One caveat to this process is that you have to be getting the care you can’t afford in order to qualify. Sad, but true. Fortunately, we have a list of companies who can bridge that financial gap until the benefits start coming in.
You should also be careful who you ask for assistance. There are some financial advisors who offer free help. While they can offer services and get the benefit, many will tell you funds that need to be protected have to be moved into an annuity. This is not true.
We have found that using an elder-law attorney ensures factual advice, as well as making sure the protection of the funds is also compliant with Medicaid laws so there aren’t complications if Medicaid should ever become a necessity.
As always, Senior Home Transitions is happy to be a resource if you have questions. Don’t hesitate to call (502) 396-9228 with your questions. If we don’t have an answer, we certainly know how to get one!
Before starting Senior Home Transitions, Patti went through the same struggle as many families do – finding a safe and comfortable senior home for their elderly loved ones. She strives to help make the process stress-free and easy to understand for both the family and the person needing the assistance. She can help you find the perfect home in the Louisville, KY and Southern Indiana area that fits your needs, budget, and lifestyle.