Aid and Attendance Example
Veterans Benefits Advocates, VETBA, focuses on helping veterans preserve and protect their financial assets through the utilization of the Veterans Administration’s Aid and Attendance Pension Benefit. The Aid and Attendance program is largely unknown to veterans but is designed to provide monetary assistance to those that are now in need of aid or assistance with activities of daily living. This aid or assistance can be provided at home, in an assisted living facility, or a nursing home. A Veteran is eligible for up to $1,632 per month, while a surviving spouse is eligible for up to $1,055 per month. A couple is eligible for up to $1,949 per month.
Sometimes the Aid and Attendance benefit can be complicated without the right type of asset holding financial instruments already in place. The VETBA professionals are skilled at managing this type of financial and legal process for senior veterans, allowing them to receive the benefits they deserve without sacrificing their lifestyle. In a typical instance, VETBA can save a veteran close to $50,000 over 5 years and even more over their remaining lifetime.
Here is an example of how this benefit works:
Social Security $1230
Cost of Care
Assisted Living Facility $2700
Medicine $ 400
Transportation $ 200
This Veteran is spending $1270 per month out of his savings to meet his medical expenses.
This Veteran could qualify for over $1800 per month if he is married or over $1500 if he is single all in TAX FREE money.
How would your family benefit from this scenario?
The Veteran’s new monthly income would be $3830 per month with expenses of only $3300 per month!! Instead of taking $1270 per month out of savings, he would have over $470 per month of EXTRA INCOME!!
AND REMEMBER . . . this benefit is available for a veteran, their spouse or their surviving spouse!!
To qualify for Aids and Attendance, your physician needs to verify that you require daily assistance by others with dressing, undressing, bathing, cooking, eating, taking medication, getting around (mobility), toileting, etc. You DO NOT have to require assistance with all of these activities, but there needs to be adequate medical evidence that you cannot function completely on your own.
Eligibility must be proven by filing the proper Veterans Application for Pension or Compensation. (Form 21-534 surviving spouse) (Form 21-526 Veteran.) Both applications require a copy of Form DD-214 or separation papers, Medical Evaluation from a physician, current medical issues, a listing of your assets, listing of your income, and a listing of your out-of-pocket Medical Expenses.
Let VETBA help you PRE-QUALIFY NOW!