Veterans are essential members of society who have sacrificed so much for the country. As a show of appreciation, the U.S. Department of Veterans Affairs (VA) offers various benefits to veterans and their families.
Unfortunately, many veterans are unaware of all the benefits they qualify for or find applying challenging. And while the VA website contains valuable information, some veterans still find navigating the complex online application process confusing.
To help make things easier, here is a summary of some of the VA benefits available to eligible veterans and their families.
Health Care and Geriatric Care
The VA offers a variety of medical and healthcare benefits to veterans and their family members. These include inpatient and outpatient medical care, mental health services, prescription medications, hospitalization, surgeries, and physical rehabilitation.
In addition, the VA also provides a full range of geriatric care, including long-term care, assisted living, Alzheimer’s care, memory care, hospice, and more. Veterans can visit the VA website’s health care and geriatric sections for more information about the services and programs available in their area.
Life Insurance
Military service entails considerable risk to life and limb, and many veterans are exposed to additional risks due to their occupational duties. To protect them and their families from financial hardship in the event of an unexpected death, the VA offers several life insurance plans to its beneficiaries.
These plans are available to current and former service members, their dependents, surviving spouses, and even veteran parents. Some of the VA’s insurance options include group term life coverage and individual term life insurance policies.
Burial Benefits
The VA also offers burial benefits to cover the cost of funeral arrangements and cemetery plots to eligible veterans and their dependents. These benefits cover both nonservice-connected death and service-connected death conditions.
If a veteran dies while on duty, the family can receive up to $2,000 in burial benefits. On the other hand, families of deceased nonservice-connected veterans are eligible for a $300 burial allowance.
Aid and Attendance Benefits
The Aid and Attendance Benefit comprises the financial assistance the VA offers qualifying wartime veterans and their surviving spouses monthly. It helps cover the costs associated with nursing homes and in-home care for adults 65 or older who need assistance with their daily activities.
Eligible veterans must have a net worth of less than $138,489 in 2022. Though homes are excluded when determining eligibility, if a veteran sells their home, the amount they receive will count toward their net worth.
Eligibility to Receive Veteran Benefits
A veteran’s net worth is crucial in determining eligibility for certain VA benefits. Unfortunately, if your net worth is above the minimum threshold, you will most likely not qualify for VA assistance.
The good news, however, is that you may be able to reduce your net worth by transferring assets into a trust known as the Veterans Asset Protection Trust and qualify for benefits. But to take full advantage of this benefit, it is essential to consult a VA-accredited attorney. An attorney will guide you through the process and ensure you avoid costly mistakes that could prevent you from receiving the benefits you earned through your military service. They will also help you handle all the paperwork associated with the trust so you can avoid delays when it comes time to file for benefits.