How to Receive Your Senior Veterans Benefits
Are you over the age of 65 and need to sign up for benefits? Here's how to sign up for your senior veterans benefits.
There are millions of veterans living across the United States. Of these veterans,
over 12 million are of retirement age. When veterans reach this age, they become eligible for certain benefits.
These brave men and women have served our country, and as they reach their golden years, our country makes moves to serve them. Despite this arrangement, many senior veterans fail to secure the benefits that are their right.
Veteran benefits can be complicated to obtain. The process does require some knowledge and work. Read on, and we’ll walk you through everything you need to know about veteran benefits and how to secure them.
Senior Veteran Benefits
Once we’re no longer able to work, it can be hard to secure the income we need to keep living. The US Department Of Veterans Affairs offers supplemental income for wartime veterans that can help veterans who have reached this point of their lives. This income is provided via their pension benefit.
To qualify, an individual must have served at least 90 days
of active duty and be over the age of 65.
Widows or children of wartime veterans may also be eligible for a survivors pension. This is a tax-free form of compensation that unmarried children and widowers may apply for. Their former spouse or parents must meet the standard requirements for senior veteran benefits.
Increased Clarity and Access
As of last year, the US Department of Veterans Affairs has made it easier for senior veterans to pursue and apply for their benefits.
Regulations governing VA pension entitlements were amended last fall. These amended regulations helped to bring consistency and clarity to the pension process that was previously lacking.
There is now a clear net worth limit when it comes to the income and assets a veteran has when they apply. There have also been massive updates to the medical expense definitions under VA. These changes were intended to ensure that only veterans that are in actual, genuine need receive benefits via the program.
The monetary amount that recipients can receive each month depends on several factors. The current max for a veteran who has no dependents is $1,831. On the other side of the spectrum? A married veteran can receive a maximum of $2,230.
Applying For Senior Veteran Benefits
Do you, your spouse, or your parent qualify for senior veteran benefits? If so, the first step will be deciding whether or not to apply. The process itself takes an average of 4-6 months but can take longer.
In addition to a healthy stack of paperwork, you’ll also need to round up a number of documents for presentation to the VA. These include:
- A copy of the veteran’s marriage certificate that is certified
- A letter from a veteran’s doctor detailing daily medical needs or assistance
- A veteran’s certified discharge papers
- Documentation of a veteran’s assets, income, and expenses
You may be surprised to hear how long it can take to get through the application process. Many people are worried about sustaining themselves or their family member during this wait.
While the wait itself can be difficult, the VA does offer retroactive payments that can make this waiting period a bit less difficult to stomach. When the VA approves an application, they send a lump sum that covers the period between your filing date and your approval.
Following the acceptance of this lump sum, a veteran receives monthly payments in their granted amount. This can make the waiting time seem a little less of a waste. There is a lot to process, and the VA does their best to work through things as quickly as possible.
Having
extra assistance to help ensure your particular case is on track is always a good idea.
VA Asset Limitations
There are limitations to how much value a veteran can own in assets when applying to receive benefits.
In 2019, a Veteran or spouse must have less than $127,061 in total assets excluding the value of a home or vehicles in order to qualify for VA pension with Aid & Attendance.
There is also a new three-year lookback period, similar to the one employed by Medicaid. This lookback ensures that applicants haven't given away assets in the previous three years that would have put their net worth over the limit. Changes made prior to October 18, 2018 do not apply.
It can be hard to generalize how the application process might go for an individual veteran. Each case is determined on an individual basis by the applicant's caseworker. For this reason, getting assistance when applying for veteran's benefits can be hugely beneficial.
Applying for Veterans Benefits
If you, your spouse, or your parent served at least ninety days in active duty, you are likely eligible for veterans benefits. These benefits can be a huge help in one's later years.
Need help navigating the sometimes complicated application process?
Contact us for immediate assistance.