There are many benefits in place for eligible veterans and their spouses to help with long-term care costs. This includes nursing home care costs, in-home care costs, and assisted living facilities.
If you are an eligible veteran, you can receive more than $23,000 annually to help cover long-term care costs in Oklahoma. The average nursing home in Broken Arrow, Oklahoma costs between $4,500 – $7,500 per month. While VA benefits toward long-term care costs won’t cover the nursing home costs entirely, it will go a long way toward reducing overall expenses. When paired with other Elder Law planning techniques, Veterans benefits can be a hugely valuable resource.
It’s important to also know that spouses are eligible for a reduced veteran benefit and that all benefits to a veteran or their souse are tax-free.
These are the requirements you must meet to qualify for Veteran Benefits for Long-Term Care:
You Served At Least 90 Days Active Duty: The 90 days of active duty does not need to be consecutive. Also, active duty is simply that, and does not require being in combat.
You Were on Active Duty At Least One Day During a Defined Period of Conflict: These are congressionally defined periods, which at present consist of:
• World War II: December 7, 1941 – December 31, 1946
• Korean War: June 27, 1950 – January 31, 1955
• Vietnam War: August 5, 1964 – May 7, 1975
• For those in Vietnam: February 28, 1961 – May 7, 1975
• Persian Gulf War: August 2, 1990 – date to be determined
You Cannot Have Been Dishonorably Discharged: You must have fulfilled your time with the military and have been honorably discharged at the end of your service.
You Must Have Long-term Care Costs: You must have ongoing costs for long-term care that don’t have a definitive end in sight, including in-home care or nursing home care. You must be able to prove with verification from your doctor that you require assistance with daily tasks like cooking, cleaning, bathing, and dressing.
You Must Prove Financial Eligibility: The VA imposes eligibility standards based on your income and asset levels to qualify for VA benefits. Similar to Medicaid planning, Littleton Legal can help you prepare your application and present your asset levels to help qualify for the benefits.