Tampa elder lawyers have good news for wartime veterans and their spouses that a little- known benefit from the VA exists to help cover costs associated with long-term care.
Understanding the Aid & Attendance Benefit
The Aid and Attendance Pension is a 3-tiered tax-free benefit that is available for wartime veterans and their spouses who need financial assistance or simply need help covering the costs associated with long-term care or un-reimbursed medical expenses.
The purpose of the benefit is to financially assist veterans who need help with performing functions of everyday living including, bathing, feeding, dressing, toileting, etc.
Here at the firm, we call these benefits the “VA’s Best Kept Secret” …and for good reason! These critical benefits are overlooked by many families with Veterans or surviving spouses because the VA is not required to tell you if you qualify!
What is Aid & Attendance for?
Again, the purpose of the Aid and Attendance Pension Benefit is to help veterans offset the costs associated with nursing home, assisted living, or in-home care. The benefit can even be used to pay a family member who oversees or provides the care for their loved one.
There are four criteria for eligibility: service, income, net worth, and medical expenses. You do not need to have a service-connected disability to qualify.
How to Plan for Eligibility
Like Medicaid, there are strict income and asset requirements that must be met in order to qualify for Aid and Attendance benefits. BUT, don’t count yourself out just yet—even if you think you have too much money or too many assets! Again, like Medicaid, the government allows veterans to utilize financial tools and planning strategies with the assistance of an attorney in order to legally reallocate assets to fall within the VA’s guidelines. Once approved, older veterans and their spouses can be eligible for up to $25,525 per year, tax-free, to help pay for their care.
Don’t Go It Alone When Seeking A & A Benefits!
Our Tampa elder attorneys recognize that securing A & A benefits and working with the VA can be difficult. Many veterans are turned away because they don’t understand the VA’s rules or the planning available to help meet the VA’s asset and income requirements. Our attorneys are available to assist you in determining the best legal and financial tools necessary to qualify and quickly help you get the benefits you deserve. To schedule a consultation, simply call our office at 813-438-8503.