How Veterans Can Finance Assisted Living Care

How Veterans Can Finance Assisted Living Care: Options & Eligibility

Many families may feel overwhelmed when considering the costs associated with assisted living, and veterans considering assisted living are no exception. The care provided by assisted living facilities gives families peace of mind knowing that their loved one is being well taken care of. For families that believe assisted living is unaffordable, there are financial aid benefits available to help finance assisted living care.

Through the Department of Veterans Affairs, veterans may be eligible for financial assistance that can go towards paying for care. The Aid and Assistance program is available for veterans and their spouse to help offset the facility’s fees.

finance assisted livingAssisted Living For Veterans

The Aid and Attendance program offered by the Veterans
Administration (VA) is a largely unknown benefits package intended for veterans and, if eligible, their spouses who may require additional financial assistance to help cover the costs. Surviving spouses of veterans may also be eligible to receive this additional pension subject to meeting the eligibility requirements. Benefits are paid monthly and can vary between $1,100 to $1,700 for an individual and up to $2,000 for couples.

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Applicants must meet certain requirements in order to receive the Aid and Attendance benefits to help finance assisted living care. These requirements range from wartime and active duty service, age, and physician statement.

5 Eligibility Requirements

1 – Service Requirements

Veterans must have served at a minimum, 90 days of active duty with at least one day served during a period of wartime. Wartime provision does not require the veteran to have been involved in combat. Veterans must also have been honorably discharged.

2 – Age Requirements

Veterans who are 65 and older there are no disability requirements. Veterans under 65 must be permanently and totally disabled in order to qualify.

3 – Disability Requirements

Veterans must also meet the disability requirements as defined by the VA. Applicants must need assistance with performing everyday tasks such as bathing, taking medication, or using the restroom. Other requirements include being a patient in a nursing home due to a mental or physical incapacity, being bedridden or having limited eyesight. Only one of these conditions must be met in order to qualify for Aid and Assistance.

4 – Income Requirements

The VA determines a veteran’s financial need based the applicant’s income and assets. The veteran’s home and car are typically excluded from the asset calculation.

5 – Physician’s Statement

There must be a valid proof that an applicant requires assistance with daily care. A physician’s statement can be submitted with the application that verifies that there is a need for Aid and Assistance.

 

If you want to have a stellar retirement, look no further. Contact Stellar Senior Living today for more information about our assisted living facilities nationwide. Click here to find a facility near you or give us a call at 801.495.7000.

Stellar Living, a family owned and operated senior living network, has been recognized as one of the premier providers of Independent Living, Assisted Living, and Respite Care nationwide. At Stellar, we take great pride in each of our communities, and in every single resident. We believe senior living is about more than healthcare. It’s about family. Come take a tour and feel the Stellar difference today.

Additionally, the following websites are valuable resources for veterans in need of financial assistance:

The Veterans of Foreign Wars: http://www.vfw.org/

The American Legion: http://www.legion.org/

Disabled American Veterans: https://www.dav.org/