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Little-known VA Program to help with Assisted Living Costs

Article submitted by Greg W. Anderson of Balanced Financial Inc. of Fort Collins, Colorado. He can be reached at 970-282-4322.

A program run by the Feds that provides assistance for the costs of in-home or assisted living care for war veterans or widows of a war veteran isn't being explored by many who qualify. The reason: "Most just don't know about it", VA officials say.

It's called Aid and Attendance and for years, the VA program has provided monthly payments to war veterans and their surviving spouses who have high out-of-pocket medical costs, are homebound or need assisted living. And in this ageing era, believe it or not participation in this program is actually falling.

Widows are hit hardest; what 85 year old female who's never served a day in uniform thinks she's eligible for a pension from the Veterans Administration?

Even the name is confusing to many; VA considers 'Aid and Attendance' one of the department's most underutilized offerings. A doctor must certify that a veteran or spouse has conditions requiring the "aid and attendance" of another person in order to live safely. About half of those receiving the benefit live in nursing homes, with the rest in assisted living centers or receiving home care.

You don't have to be impoverished to qualify. The eligibility formula balances income against medical bills; so many middle-class vets could qualify for payments as high as $1,842 a month to help them offset health care expenses. Many items constitute unreimbursed medical expenses, including doctor & dentist fees, glasses, Medicare deduction, co-payments, prescriptions, transportation to doctors, and therapy.

But the biggy for most are the costs of assisted living.

Applying for the benefit can be time consuming but I have been using this in my planning to great affect. As with all planning, no strategy is right for all; other options may fit you (your parent) better. But in our office's work with the retired set, this idea is going overlooked by my many.

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