Qualified U.S. veterans, their spouses, or surviving spouses who are in need of the aid and assistance of another person, or are housebound, may be eligible for the “Aid & Attendance and Housebound” benefit, to help pay for long-term care. It is paid directly from the United States Department of Veterans Affairs (“VA”) in addition to their monthly pension received by the VA.
This is a very little-known benefit that is annually funded with billions of dollars by Congress and serves those who need financial help covering costs for in-home care, assisted living, or a nursing home.
This program may be the only lifeline available to protect those that protect us. As with any government funded program, there are qualifications for eligibility to receive this benefit. Let us help you with this process.
Long-Term Care Planning
As we age, the need for long-term medical care oftentimes becomes a reality for many people. Concerns of cost, location, care providers, in-home, assisted, skilled, or nursing care can become a daunting challenge. Some rely on savings, pensions, social security, reverse mortgages, or family members to support this expense.
The stress associated with the need for care, and funding the cost can be alleviated with proper planning. Investment portfolios that generate income and dividends, supplemented with pensions and Social Security may be enough to cover the cost.