How to Use Veteran’s Benefits to Pay for Assisted Living or Skilled Nursing Care

    Published: 06-16-2009
    Views: 8,659
    Mark Francis of Emeritus Senior Living provides a simple overview of financial solutions for people exploring a move to senior living. The video covers some of the newer, more innovative, or often overlooked financial options available, such as Veteran’s benefits. Mark will explain how this option and strategy can help you or a loved one afford a senior living arrangement without straining your resources.

    Mark Francis: Hello, my name is Mark Francis from Emeritus Senior Living. I'd like to tell you about a special benefit just for veterans or their surviving spouses. This benefit is often overlooked by families who need additional funds to help pay for senior living. Depending on the veteran's health and financial status they may qualify for the Aid and Attendance Program.

    This is a program offered by the Department of Veterans Affairs that can help pay for care in the home, in assisted living, or even a skilled nursing facility. The aid and attendance benefit is specifically for those who need assistance with their activities of daily living who meet specific medical and financial requirements. These benefits are paid in addition to monthly pension payments, and may provide more than $1600 per month to a veteran, a $1000 per month to a surviving spouse, or $1900 per month to a couple.

    People who qualify for this benefit are, veterans who have served at least 90 days of active duty with one of those days being in a recognized period of war, an unmarried surviving spouse of a veteran, veterans or surviving spouses who need financial assistance on out-of-pocket medical expenses, and veterans or surviving spouses who require assistance with their activities of daily living.

    You can apply for Aid and Attendance by contacting the Veterans Affairs office where you filed your pension benefits, or any VA regional office. For more information go online, or inquire at your senior living community.