Michigan VA Benefits for Long-Term Care Costs

There are six ways to pay for long-term care in Michigan.  Fifth out of those six ways to pay for long-term care is the VA Benefit, which in 2015 can pay up to $2,120 per month tax free!

The Six Ways to Pay for Long-term Care

1) Private pay.  Pay out of your own assets for long-term care.
2) Kids pay.  Typically the children don’t pay financially, but the they pay in term of their time.
3) Medicare.  Medicare only pays short term rehab and hospice, not long-term care costs.
4) Long-Term Care Insurance.  Long-term care insurance is a tool that can help pay long-term care costs, but it is certainly not a magic wand or the only answer.
5) VA Benefits.  We’ll talk more about this more…
6) Medicaid.  Medicaid pays for nursing home level care only, with harsh asset qualification penalties.

Michigan VA Benefits For Long-term Care

If a veteran needs long-term care, either home care, assisted living or nursing home care, there is a little known resource called the non-service connected VA Benefit that can help pay that cost of care.

VA Benefits for Home Care in Michigan

Home care in Michigan can easily run over $3,000 per month when you’re buying a couple hours per day a couple times per week.  The VA Benefit can easily come in and help off-set some of that cost of care.

Qualification for Michigan VA Benefits

There are five requirements to qualify for the Aid and Attendance Veterans Benefit.

  1. The Veteran must have served 90 days active duty.
  2. One of those days must have been during a period of conflict.
  3. Cannot be dishonorably discharged.
  4. Long-term Care Costs must exceed Social Security and Pension.
  5. Asset Test

The benefit is really that straight forward.  If you’re able to overcome each of the requirements then you can bring in up to $2,120 per month tax free.

If you would like a free easy action plan to secure your VA Benefits, then contact our office for the VA Benefits Action Plan.

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