Navigating Senior Veteran Benefits

Posted by Franklin Park on Oct 1, 2019 7:00:00 AM | 3 minute read

Navigating Senior Veteran Benefits with Franklin Park Senior Living

First and foremost, Franklin Park Senior Living would like to thank all of the brave men and women who have served, and those continuing to serve our country. If you are a senior veteran, you may not be fully aware of what benefits you are eligible for, or how to properly apply and collect your veteran benefits.

With nearly 40% of veterans being retired as of 2016, millions of senior veterans should be taking advantage of the veteran benefits they have earned. However, you may be surprised to know that no more than 5% of veterans, 65 years and up, use these benefits. On top of that, the Department of Veterans Affairs reports an estimated $33 million in unclaimed benefits. 

Franklin Park Senior Living wants to help you navigate, understand, and learn how to apply for certain veteran benefits.

Supplemental Income for Wartime Veterans

Supplemental income for wartime veterans is a standard benefit commonly referred to as a Veteran’s Pension. To claim this veteran benefit, you must have served at least 90 days of active duty. If your duty began after September 7th, 1980, the requirement increases to 24 months or the full period of how long you served or were called to serve, with a minimum of one day during wartime. To receive this benefit, you must:

  • Be at least 65 years old, OR
  • Receiving Supplemental Security Income (SSI), OR
  • Social Security Disability Insurance (SSDI), OR
  • Be disabled, OR
  • Receiving skilled nursing care 

These benefits can vary depending on several factors, including whether or not you have a dependent, are married, need assistance, or are housebound. You can find the official application for this veteran benefit on Veterans Affairs official website. While filling out this information, be sure to have your SSN, military history, financial information, and banking direct deposit information. 

Aid and Attendance Benefits

The aid and attendance benefit can offer some much-needed relief to seniors seeking long-term care in a senior living community. This benefit is available to any veteran who served during wartime, requires assistance, and meets specific income-based requirements. 

To find out if you’re eligible for this veteran benefit, you can apply directly through the Veterans Affairs website and begin the process. For this benefit, you will need evidence, such as a doctor’s report, to prove your eligibility. 

State Specific Benefits

Though the United States Department of Veterans Affairs offers many significant benefits on the federal level, many states have taken it a step further and began offering exclusive veteran benefits. For instance, in the state of Texas, a disabled senior veteran has an exemption from property taxes. If you’d like to filter by your specific state, Military.com is a fantastic resource for finding these benefits!

While applying for veterans benefits can be tricky, they could also aid you in creating a better quality of life for yourself and your family. From all of us at Franklin Park Senior Living, we thank you for your service, and we hope you found this information helpful. For more information regarding senior living or healthy aging, you can check out our blog.

Topics: Senior Living, Finances & Budgeting, Retirement

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