Veterans Not Accessing Benefits They've Earned

Veterans and their families should become more informed about benefits available. Too often, Veterans go without services they need simply because they are unaware of benefits they've earned through their service. According to a recent report, about 105,000 veterans were using the Aid and Assistance benefit (A&A) last year. Yet the pool of potential recipients is so much bigger. There are 2.3 million World War II, 2.6 million Korean War vets, and 7.7 million Vietnam vets still living.

For example, millions of Veterans fail to access the A&A benefit, which is meant to help aging veterans and their surviving spouses, pay for care at home, in an assisted-living facilities, or in a nursing homes.

The A&A benefit can pay up to $1,949 per month to provide care for single or married veterans or their surviving spouses at home, in assisted living facilities, or in a nursing homes. Applicants must meet certain medical and financial thresholds,

but eligibility does not depend on service-related injuries or even overseas service and surviving spouses of Veterans are also eligible.

Too many veterans and their families are simply unaware of this benefit or assume they are ineligible for it. The rules are confusing and require a slightly deeper understanding than first appears. For example, the rules state that the Veteran must be 100% "disabled" to be eligible. Well, under those same rules, in a different section, a Veteran who is at least 65 years old IS DISABLED! And, while the rules also state that you are not eligible if you have too much monthly income (e.g. $1,644 for a single Vet with no dependents), another section of the rules allows you to deduct ALL medical expenses, including health insurance premiums, prescriptions, and the monthly charge for assisted living or nursing home care, in determining your monthly income.

There's another reason to be informed. Veterans often fall prey to financial "experts" offering free services in assisting the Veterans' in getting benefits. Such experts motivation in offering " free" help is frequently to pitch financial products that do not take into account a veteran's overall financial situation or eligibility for assistance. Relying on advice based on selfish motivations Veterans and their families can end up worse off.

Another issue non-qualified advisors forget is that Veteran's Benefits planning must always take into account the possibility of a future application for Medicaid benefits. For example, the VA eligibility rules are much more liberal when it comes to transferring or gifting assets. Those rules are not the same as Medicaid eligibility rules, which are much harsher, and once a gift is made to a family member it may become an irrevocable gift that cannot be returned at a later date.

Seeking expert advice can help veterans make the most of their benefits. But they should be sure the advice is from a professional - an elder law attorney, claims agent, or veteran services representative - who has been accredited by Veterans Affairs. To find an accredited professional or check accreditation, visit the Veterans Affairs website, www.va.gov.