Voted #1 In Senior Living By Those Who Matter Most.  Learn More >

Financing Senior Living: Veterans Benefits

Financing Senior Living: Veterans Benefits


StoryPoint Group
StoryPoint Group | Senior Care Experts
Leaders in Senior Living Services
Financing Senior Living: Veterans Benefits

Navigating the cost of senior living is often a large concern for seniors and families alike. For seniors who served in the armed forces, accessing available financial assistance can add an extra layer of difficulty.

Here’s an overview of veterans benefits and what you need to know.

 

Veterans Benefits 101

In summary, this type of aid is a tax-free pension benefit for veterans and their spouses that helps offset the cost of senior living communities, nursing homes and in-home care.

To qualify for veterans benefits, seniors must meet the following criteria:

Military service: Veterans must have served 90 consecutive days of active military duty and at least one day of active duty in World War II, the Korean War, the Vietnam War or the Gulf War. Veterans whose military careers ended due to dishonorable discharge are not eligible to receive benefits.

Medical needs: Veterans or their surviving spouses must have a note from their doctor that they need support with activities of daily living (ADLs). Acceptable ADLs include:

  • Dressing
  • Bathing/showering
  • Feeding
  • Personal hygiene
  • Bathroom services
  • Transferring
  • Prompting (reminders)
  • Sitting and standing

Financial status: Veterans and/or surviving spouses must spend their entire monthly income (Social Security, pension and any other forms of income) on care costs. Qualified care costs include:

  • Rent/care packages for assisted living communities and nursing homes.
  • Home caregiver costs
  • Adult foster care rent
  • Monthly health insurance premiums (Medicare, Blue Cross Blue Shield, etc.)

 

How Much In Veterans Benefits Can I Receive?

The amount of financial assistance veterans and/or their spouses can receive is dependent on their marital situation. Here’s the breakdown:

  • Veterans only: $1,881/month
  • Veteran and spouse: $2,230/month
  • Surviving spouse: $1,209/month
  • Two veterans, married: $2,984/month
  • Healthy veteran, disabled spouse: $1,477/month

 

Where Do I Start?

As you begin your search for a senior living community, the first place to start is with the application process. At StoryPoint, our communities help veterans by connecting them with the resources they need to begin the application process and access benefits.

 

Use The StoryPoint Group Cost Calculator

Our cost calculator is here to help you get an estimate of the cost of senior living where you live:

See The Costs Of

Senior Living Compared To Staying In Place

We created this senior living calculator to help you determine the costs of senior living compared to remaining in place.

Get Started

Compare The Costs Of Senior Living

To accurately estimate the cost of senior living, simply enter your monthly expenses in the field below.

To see an estimate of the cost of senior living, simply select the state and level of care you think is right for you or your loved one.


Select the state you're interested in and level of care that’s right for you.
Question 1/8
Independent Living: For independent seniors who want to maintain an active lifestyle while downsizing their daily living responsibilities.
Assisted Living: Provides daily support for seniors who need help with tasks such as medication management, bathing and dressing.
Memory Care: Specialized care for seniors with Alzheimer's disease, dementia or other memory impairments.
Mortgage or rent*
Question 2/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Total of utilities*
Question 3/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

 

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

 

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

 

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Transportation*
(Vehicle Insurance, Registration, Gas, Maintenance, And Repairs)
Question 7/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Home Health Care / Companion Costs*
(The National Average Cost Is $3,360-5,760 Monthly*)
Question 8/8

*The state average for the above expense has been added for your convenience. Update the value to reflect your current situation.

Your Results
?

We took the information you provided to calculate your current living expenses vs. the average costs of senior living. Here are your results.

Your Monthly Estimated Costs
Your current costs (based on the values you entered)
The average monthly cost of Independent Living in

Download Your Full Page Report!

Your Name(Required)
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
Hidden
This field is for validation purposes and should be left unchanged.

Electric:
Gas:
Cable/Internet:
Water/Sewer:

*This information is intended to aid in the evaluation and the decision-making process related to senior living alternatives. It is based on information and assumptions provided by you and information compiled from multiple accredited sources for comparison purposes. The calculations and comparisons provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information.

 

What’s Next?

From VA benefits to answering all your senior living questions, we’re here to help you on your senior living journey. This survey is a great place to start.

StoryPoint Group

StoryPoint Group | Senior Care Experts

Leaders in Senior Living Services

For more than 40 years, we have been committed to providing our senior living residents with a sense of community and the absolute best experiences they deserve.
X
TOP

Looking for More Information?

Connect with us by phone at 1-844-275-9990 to get answers to your questions, or just to say hello.