Not everyone manages to save enough for retirement. Some people get to their retirement years and begin traveling, enjoying life, and feeling great. Even as they get older and face shifting challenges with regard to physical capabilities, they continue to stay as active as possible. This includes elderly veterans as well as others.
Sometimes, however, that retirement fund can run dry, even with the best planning in place. Stock market fluctuations, a recession or crash, a company going bankrupt and being unable to pay out pensions that were promised, and so much more can all lead to some senior veterans having an extremely difficult time financially moving forward.
For veterans who may require some type of home care services and assistance, when they face dire financial circumstances, it might feel as though they have to weather the storm themselves. They may not even consider the prospect of home care because they assume they can’t afford it.
There are options for veterans.
Veterans of all ages may be eligible for certain pensions, even if they had been denied other pensions due to assets or income levels. One such pension that can help pay for home care for those who have a specific need for it is known as the Aid and Attendance Benefit.
This pension is made available through the VA and can provide more than $2,000 per month to certain veterans who need some type of home care support and assistance.
In order to be eligible for this pension, veterans need to have served a minimum of 90 days in one of the major branches of the United States military. At least one day of service, whether they served the minimum 90 days or 20 years, has to have fallen during a time of active combat. Generally speaking, this would include World War II, the Korean War, the Vietnam Conflict, or the Gulf War.
They also need to be able to show a specific requirement for home care services. Having a doctor’s recommendation could certainly help, but there are other ways to prove home care is absolutely necessary at this time.
Even widows of veterans who may have otherwise qualified for this particular pension could receive financial support for home care services, but not the same amount as the veteran himself.
Any veteran who is looking at the prospect of home care as a necessity should contact a local agency to help them learn more about this important pension and maybe even get assistance in filling out the application as soon as possible.