How often does a person anticipate someday needing long-term care? There is such a thing as long-term care insurance that’s available to people of just about any age, but only a small percentage of Americans actually seriously consider long-term care insurance.
That’s because we don’t really think will ever need long-term care. Veterans are no different.
However, at some point in time home care services or extra support is going to be necessary for some people. It could be due to injuries sustained in an accident, a medical emergency, major surgery, or some other health issue. As people get older, the risk of health issues increases.
For veterans, when they require some type of home care support, it could be for short-term, but it can also be for long-term. When people require long-term care, the cost can end up being tremendous. In fact, when calculating the average cost of full-time home care services in the United States is $42,000 per year. What people assume it may be needed, for example, for five years, that’s over $200,000. That’s more than the cost of the average house in this country.
For veterans, there are various pensions that can help.
The most notable is the Aid and Attendance Benefit. There’s also the Homebound pension that can provide some financial support for veterans who require extra care at home. The significant difference between the Aid and Attendance Benefit and the Homebound pension has to do with mobility.
A veteran who requires extra care and support at home, but who may be able to get around to some degree, at least with physical support, the Aid and Attendance Benefit might be one to consider. For a veteran who has extreme difficulty with mobility, and is essentially relegated to stay at home, possibly bedridden, the Homebound pension is more suited to that specific need.
Not all veterans are going to qualify for the Aid in Attendance Benefit, though. In order to qualify for this pension, which can pay for home care services for long-term care, the veteran needs to have served at least 90 days active duty in one of the major branches of the United States military. At least one day of service needs to have overlapped an official time of combat, as defined by Congress. If their time of service overlapped the Gulf War, they need to have served at least two years in the military.
They also have to meet specific income and asset thresholds and be able to prove home care support is absolutely necessary at this point in their life.