Veterans Financial, Inc. makes public the Veterans Administration's 2009 Pension Rates -- This Includes the Popular Aid and Attendance Benefit Program
The Department of Veterans Affairs has announced a 5.8% increase in Pension rates for 2009. This includes the Aid and Attendance benefit program, which is used by many seniors to help pay for their long term care needs. The benefit provides up to $1,644 per month for a qualifying veteran and up to $1,056 for a qualifying surviving spouse.
Villanova, PA (PRWEB) November 27, 2008 -- Veterans Financial, Inc. announces that the Department of Veterans Affairs has published their Pension rates for 2009. These new rates affect the Aid and Attendance Pension benefit which has been a hot topic of conversation over the last few years. For those who are unaware, this benefit can have a significant positive impact in assisting with the cost of Long Term Care. Many veterans or their surviving spouses use this benefit program to offset some of the costs associated with Assisted Living, Home Care, Skilled Nursing Facilities and Adult Day Services.
The 2009 Maximum Rates for those who qualify for the Aid and Attendance level of Pension are as follows:
Single Veteran $19,736 annually $1,644 monthly
Surviving Spouse $12,681 annually $1,056 monthly
Veterans with Spouse $23,396 annually $1,949 monthly
This benefit can provide a significant tax-free income to those who meet the Veterans Administration's eligibility guidelines. Here are the basic criteria in order to qualify for this benefit. The veteran had to serve 90 days or more of active duty with at least one day during a period of war time (WWII: 12/7/1941 - 12/31/1946, Korea: 6/27/1950 - 1/31/1955, Vietnam: 2/28/1961-5/7/1975 for those who served in the Republic of Vietnam and 8/5/1964-5/7/1975 in all other cases). The veteran had to be discharged from service under conditions other than dishonorable. The Veterans Administration looks at income and net worth, but most long term care recipients (Assisted Living, Home Care, Skilled Nursing Facilities and Adult Day Services) can become eligible by implementing a carefully constructed financial plan.
Working directly with the Veterans Administration can be challenging. This is an area where experience counts. To select an advisor that will do the necessary financial work prior to applying, choose an organization that has a history of success. Over the past five years, the team at Veterans Financial, Inc. has advised more than 15,000 families from over 950 assisted living communities, home care agencies, nursing homes, and related elder care providers. Collectively, the Team at Veterans Financial, Inc. has over 400 years of experience in the financial services industry, specializing in issues that affect retirees. Additionally, they have a Department of Veterans Affairs accredited Claims Agent on staff. Veterans Financial, Inc. is a private financial services company, not part of the Department of Veterans Affairs. They do not charge a fee for this service at any time, as that would be a violation of Federal Regulations. You may reach Veterans Financial, Inc. at 1-800-835-1541 or visit their website at www.veteransfinancial.com.
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