A lesser known VA benefit which can be used by the veteran or their surviving spouse is a program called Aid & Attendance. You can either visit their site, www.va.gov or call their toll free number, 877-222-8387. The A&A benefit is specifically for home care. It will provide monthly payments to be used to supplement income to cover the cost of a home health aide. Benefits are tallied based on physical and financial need. The veteran’s discharge papers are needed. You can contact the VA directly or ask your financial planner about the specifics of this benefit program. There is no charge to complete the application though there may be a charge for the financial advice and planning.
The Veterans Administration is another source of assistance for the country’s military veterans. Probably the most well known benefit is their medical benefit. Veterans can receive medical attention at VA clinics and hospitals. The VA also has a very generous medication benefit which makes many prescription drugs affordable to many seniors.
Other benefits include:
• Death Pension
• Dependency Indemnity Compensation
• Direct Deposit
• Directions to VA Benefits Regional Offices
• Disability Compensation
• Disability Pension
• Home Loan Guaranty
• Medical Care
• Vocational Rehabilitation and Employment
Please note: when putting together your longer term financial plan, receiving one financial benefit (i.e. Aid & Attendance) may make you ineligible for another governmental benefit down the road (i.e. Medicaid). It’s best to consult your trusted professional elder care attorney or financial planner. It is a complex matter of putting the pieces of the puzzle together.
Be sure to always make copies of any forms and correspondence to the Veterans Administration and have patience. If your are approved, the payments are made retroactively from when you applied. It can take several months till you hear back from them.