When working with clients who are aging or supporting aging family members, the cost of long-term care is often one of the biggest concerns. For veterans and their surviving spouses, there are valuable benefits that often go overlooked—benefits that can significantly offset the cost of in-home care, assisted living, or nursing home expenses. As an advisor or professional working with clients, understanding these benefits can be a game-changer for their financial and care planning.
1. Aid & Attendance (A&A) Pension Benefit
The VA Aid & Attendance program is perhaps the most underutilized benefit available to qualifying veterans and their surviving spouses. This pension supplement can help pay for:
- Home health aides
- Assisted living care
- Nursing home costs
To qualify, the veteran must have served at least 90 days of active duty, with at least one day during a wartime period, and meet specific medical and financial requirements. Many families never apply because they assume their loved one won’t qualify, but the financial eligibility rules are nuanced, and an experienced professional can often help navigate them.
2. Housebound Benefits
Similar to A&A, the VA Housebound benefit is available to veterans who have a permanent disability that substantially confines them to their home. While less well-known than A&A, it can provide additional pension support that can be used toward in-home care and living expenses.
3. VA Health Care and Long-Term Care Options
The Department of Veterans Affairs provides a variety of health care services and long-term care programs, including:
- Adult day health care
- Skilled nursing care in VA or contract facilities
- Respite care for caregivers
- Home-based primary care services
Encouraging clients to explore these programs can open doors to significant savings and support.
4. Surviving Spouse Benefits
Even if a veteran has passed away, their surviving spouse may be eligible for certain benefits, including Dependency and Indemnity Compensation (DIC) and Aid & Attendance for surviving spouses. This is an often-overlooked resource that can provide meaningful financial relief for widows or widowers facing rising care costs.
5. Why Professional Guidance Matters
Navigating VA benefits can be complex, and many families miss opportunities simply because they aren’t aware of what’s available. By connecting your clients with accredited VA professionals or elder law attorneys familiar with veterans benefits, you can help them:
- Determine eligibility
- Complete applications correctly
- Strategically coordinate benefits with other income and care plans
Final Thoughts
Veterans and their families have served our country, yet many don’t realize the financial help available to them in their later years. By proactively exploring overlooked veterans benefits like Aid & Attendance, Housebound, and surviving spouse support, you can help your clients access critical resources to ease the financial burden of long-term care.
