by Thomas Keister
If you have military vets in your family or circle of friends, it could behoove you or them to check out the Veterans Aid & Attendance Pension Benefit, a little-known benefit which provides tax-free money that can be used for in-home care, board and care, an assisted living community or a private-pay nursing home.
The Veterans Aid & Attendance Pension Benefit, sometimes referred to as the A&A benefit, is basically a private nursing care insurance policy provided to veterans and their surviving spouses by the U.S. government. The benefit provides up to $1,794 a month for a veteran, $1,153 for a surviving spouse, or $2,127 to a couple. The tax-free money can be used for private-pay nursing homes, assisted living communities, in-home care, or board and care.
To qualify, a veteran or spouse must meet requirements including wartime service (at least 90 days of active duty with at least one day during one of the specified wars, and he or she must have had an honorary discharge), financial need (assets under $80,000 excluding a home and a car), and medical need (the veteran or spouse must need assistance with eating, bathing, or dressing).
It can take between six to eight months on average to get approved, however some applicants can wait more than a year. But once the application is approved, it is applied retroactively to the date of application.
Read about the Veterans Aid & Attendance Pensions Benefit, at the Veterans Administration website, and check out a brief questionnaire at VeteranAid.org, to help determine if you or a family member can benefit from this program
Tax, business, and consumer news and opinion. Curated and/or written by the HFG staff.
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