Care for Aging Veterans in Water Mill NY
During the past 10 to 15 years, the idea of a reverse mortgage has become more popular than ever. Turning on the TV can expose people to the concept of a reverse mortgage. Celebrities promote it and make it sound like one of the best things to consider.
A home reverse mortgage may be able to help a senior pay for home care support services or some other type of long-term care. Their house is an asset and, if there’s a lot of equity in it, a reverse mortgage may be something people consider to help pay for this type of support.
For veterans, a reverse mortgage might be something they consider as well when they need any type of long-term home care support. However, a reverse mortgage can be costly, the interest points on it are high, and most mortgage lenders will only provide money for half the equity that’s actually in the house. So, over the long-term aspect, it’s not a financially reasonable solution.
How can veterans get the home care they need?
It’s not available to all veterans, but the Aid and Attendance Benefit may be used to help pay for home care services. In fact, that’s exactly what it was designed for.
The Aid and Attendance Benefit was developed following World War I to help returning soldiers get the home care support they needed due to injuries and other disabilities suffered during combat. It has expanded through the years to cover veterans from all walks of life, as long as they meet certain criteria.
First and foremost, a specific need for home care support services needs to be proven. This can often be done with a doctor’s recommendation.
Second, the veteran needs to have served a minimum of 90 days in one of the major branches of the United States military. If they served during the Gulf War, or any time of their service overlapped that conflict, they need to have served a minimum of two years’ active duty.
At least one day of their service needs to have overlapped a time of official combat, as defined by Congress. This includes World War II, the Korean War, the Vietnam Conflict, and the aforementioned Gulf War.
For veterans who qualify for this and need home care support, the Aid and Attendance Benefit is a much better option than a reverse mortgage. Of course, there are income and assets threshold limits that need to be met as well, so not every veteran who meets the basic criteria will qualify for this pension.
If you or an aging loved one are considering hiring professional home care for an aging veteran in Water Mill, NY, call the caring staff at Artful Home Care today at 631-685-5001.
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