Inflation affects all consumers, but older Americans are facing an especially dramatic loss of buying power.
Veterans have several educational and health care benefits offered through the Tricare and GI Bill by The US Department of Veterans. Even with these programs that help veterans and their families, other little-known services can improve their lives and ease the financial burden of medical care and other expenses. Check your veteran status to see if you qualify for the following ten benefits:
It is well documented that long-term care is expensive, but it is often necessary to provide for aging relatives. Through the Aid and Attendance program, many veterans can receive money that covers the cost of assisted living programs, nursing homes, and other long-term care facility options. Currently, couples can receive up to $25,020 annually, which can defray a significant portion of the costs associated with long-term care. A veteran’s surviving spouse is also eligible to receive up to $13,560 annually to cover their long-term care costs.
Suppose you decide to provide care for your ailing veteran at home, then check into the Veterans Affairs Caregiver Support program. While the program does not offer monetary support, it does give the caregivers a no-cost support line and a caregiver support coordinator who can provide invaluable information when navigating military benefits and learning stress-reducing techniques while caregiving.
Burial benefits for veterans provide a family with a way to open and close the gravesite of their loved one in any of the 148 national cemeteries with available space and provide perpetual gravesite care at no cost. Additionally, the program provides a government headstone or marker, a burial flag, and a Presidential Memorial Certificate.
Non-College Degree Certificates and Programs
Many veterans are looking for jobs to increase their income or boost their retirement savings. The GI bill can provide training certification courses and vocational training programs for emergency medical training, barber/beautician school, truck driving, HVAC repair, etc. The VET TEC program offers other non-college degree programs with accelerated learning in coding boot camps and other associated information science programs and software training. There are also free certification programs in information technology for qualifying veterans.
Free Tax Preparation Services
Veterans and their families can use the free tax preparation services available on military bases through the Volunteer Income Tax Assistance offices. The tax preparers in these offices have expertise working with the complex nature of military-related tax issues.
GI Bill Credits Transfers
As a veteran, if you have unused credits through the GI Bill, you may transfer them to your spouse or dependents. If you qualify for the service limits, then you can transfer the benefits.
Traditional life insurance can be difficult for a veteran to get; this is particularly true in sustaining an injury during their time of service. The Servicemembers’ and Veterans’ Group, Life Insurance Program, can provide up to $400,000 in life insurance and offer competitive premium rates. To learn more, visit the VA’s Group Life Insurance website for servicemembers and veterans.
Delinquent Mortgage Help
Repayment assistance is available for veterans having trouble making their mortgage payments. Some of the options available include special repayment plans, loan modification, and loan forbearance programs. There are also benefits for veterans with VA loans as well as for homeless veterans.
Veterans can search the list of VA acquired properties and purchase these homes at a discount. The VA maintains this list of homes that are serviced through VA Home Loans and are in foreclosure. Although you do not have to be a veteran to search the property list, all qualify for VA financing.
American Corporate Partners
Veterans can connect their skill sets to job opportunities in top companies through American Corporate Partners. This service also provides one-on-one mentoring, interview coaching, resume assistance, and more. If you are looking to start a second career, this service can help you identify the best move for you.
Benefit opportunities for a veteran can make a big difference in lifestyle for themselves and their family members. Understanding the process of veteran qualification/eligibility and properly submitting paperwork for approval can be difficult to navigate. Identify the programs that can help your veteran and then contact an elder law attorney specializing in veterans’ benefits, like us. We’d be honored to help. Please contact our New York office or call us at 914-498-8709.