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Important financial benefits available to elderly veterans

If your parent is suffering from dementia -- or you know an elderly person who is -- you might relate to the story that follows. A woman started looking for an assisted living facility for her mother, who was in an advanced state of dementia. Later, she discovered that her mother qualified for Veterans Administration (VA) benefits. The VA benefits were a great boon that could help pay for her mother's care.

The woman's mother qualified for benefits because she was the widow of a World War II vet. The problem was, she didn't know about the available benefits until after she had been living in an assisted living facility for years. Much money had already been spent, and many benefits had been left untapped.

By the time the woman figured everything out and completed all the necessary paperwork for her mother, it was too late. Her mother passed away at the age of 95.

In the process of pursuing veteran's benefits for her mother, however, the woman discovered some interesting things. Mainly, she found that only 5 percent of available VA benefits get applied for. People simply don't know that these programs exist, and they don't know that they could receive helpful financial benefits at a time they need them most.

The Veterans Aid & Attendance Pension Benefit, also known as the A&A benefit will provide veterans as much as $1,794 monthly and surviving spouses as much as $1,153 monthly. It will provide couples as much as $2,127 monthly. This tax-free money is available to pay for board, care, assisted living, private nursing home and in-home care costs.

Are you a veteran or the widow of a veteran? You may be able to pursue financial benefits to pay for your long-term assisted living care. Be sure to review all of the VA benefits available to you, and make sure you're not missing out.

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