Veterans Benefits: Paying for Senior Care Guest Post by Jeff Anderson Originally Post in Senior Living Blog
Are you a senior veteran or an immediate family member of a veteran? Do you know about the veterans benefits you or a loved one have earned? Learn about the top secrets to paying for senior care.
A Place for Mom has helped guide more than 410,000 veterans in their searches for senior housing and senior care. Part of this assistance involves making veterans and their families aware of VA benefits that they have earned but may not know about. Learn more about benefits like Aid and Attendance, which can provide substantial assistance to veterans who require care but are unable to pay for the full costs privately.
Veterans Benefits Help Families Paying for Senior Care
Depending on the veteran’s care needs and financial status, Aid and Attendance can provide $2,000 or more towards the cost of assisted living or other types of senior care. Even surviving spouses of wartime veterans may qualify for related benefits. Considering the relatively high cost of senior care, the benefit can be a godsend for families who would have had great difficulty affording senior care otherwise.
A quick glance at the cost of senior care compared to the typical senior’s income shows that most seniors are unable to pay for care through their income alone:
- The average monthly cost for the base rent of assisted living was $3,995 per month in 2015 according to A Place For Mom’s Senior Care Pricing Index
- The median household income for seniors was $3,075 per month in 2014 according to U.S. Census Bureau data
Of course, some seniors have savings and other assets that they can put towards care, or they have adult children who can contribute. But making up for this is challenging for many seniors.
Veterans who served during wartime may be entitled to Aid and Attendance to help make up for this shortfall. Aid and Attendance is a “need based benefit,” meaning that qualified veterans who can’t afford care on their own can receive funds to pay for care, while veterans who are financially comfortable and are able to pay for care independently do not immediately qualify.
Most Veterans Unaware of Benefits
According to the U.S. Census Bureau, there are more than 9.3 million veterans over age 65.
Unfortunately, most of these vets and their loved ones don’t know about benefits that could make this phase of their lives easier.
A Place for Mom commissioned a survey conducted by Harris Interactive which found that 69% of senior veterans and their loved ones were not aware of VA benefits such as Aid and Attendance. A longstanding criticism of the VA is that it has not done enough to educate senior veterans about Aid and Attendance.
A Place for Mom’s Commitment to Veterans
A Place for Mom is committed to assuring veterans and their loved ones aren’t deprived of benefits they have earned through their brave and honorable service.
A Place for Mom Vice President of Senior Living Advising, Jennifer Mellet, says, “Veterans are often eligible for benefits, but the process to apply is not well-promoted, or may be so complicated that families are unsure where to begin. Our goal is to raise awareness and help our nation’s veterans access the support they need.”
Veterans and their loved ones searching for senior care can speak with an A Place for Mom Senior Living Advisor to learn more about Aid and Attendance and for help finding providers that are Aid and Attendance approved.
Learning About Veterans Benefits
For basic information on veterans benefits for seniors, visit our dedicated Guide to U.S. Veterans Benefits.
We also invite you to download our comprehensive and free Guide to VA Benefits and Long-Term Care, which contains everything you need to know about Aid and Attendance and related benefits.
Do you or a loved one have veterans benefits? What would you like to let other families know about this process? Share your story with us in the comments below.
Veterans Benefits: Paying for Senior Care posted by Jeff Anderson
Originally Posted in Senior Living Blog Posted On 05 May 2016 http://www.aplaceformom.com/blog/veterans-benefits-paying-for-senior-care/