Alan N. Potts, Chartered Financial Consultant
I help veterans and their families in Florida and South Georgia understand long term care benefits from the Department of Veterans Affairs (VA). Most veterans are not aware of the eldercare benefits available through veterans health care, through state veterans homes, through home renovation grants (HISA Grants), or from two disability income programs called Compensation and Pension.
One particular program called Veterans Pension or more commonly known as the "Veterans Aid and Attendance Benefit," can provide money to pay for home care for veterans. Aid and attendance can also be used to pay for assisted living for a veteran or the veteran's spouse and for nursing home care for a veteran or the veteran's spouse.
It's astounding that roughly 1/3 of all seniors can qualify for up to $2,019 a month in additional income through Pension under the right conditions. Yet government statistics show only 5% of potentially eligible veterans are actually receiving the Pension benefit.
This benefit can help you pay anyone including your child for home care. It can also be used to help you pay for professional care in the home, for assisted living, or for nursing home. Imagine having an extra $2,019 a month that you didn't even know existed.