FAQ
Veteran’s Financial FAQ | Veteran’s Benefits FAQ
Veteran’s Financial FAQ
1. Is there a cost to speak to or meet with a Veterans Financial, Inc. representative?
No, Veterans Financial does not charge fees to individuals or to care providers. It is a violation of Federal Regulations to charge for assistance with a Veterans Administration Aid and Attendance Pension Benefit application. Some firms claim that it is legal to charge for assistance prior to filing an application for benefits. These organization are literally interpreting a key portion of the code which says, once a veteran or spouse expresses an interest in applying for benefits, there can be no charging beyond that point.
2. How will I know if I/my loved one is eligible for benefits?
Veterans Financial works with numerous government programs, and each has its own set of eligibility and qualification criteria. Concerning the Veterans Aid and Attendance Pension benefit, our advisers will draw on our years of experience working with this benefit to educate you about the eligibility criteria used by the Veterans Administration. If you meet the basic criteria, we will encourage you to apply for benefits and provide you with all of the necessary forms and instructions. Unfortunately, until the Veterans Administration makes an official determination on the application, no one will know for sure if you/your loved one is approved.
3. Is Veterans Financial, Inc. part of the Veterans Administration or a governmental agency?
No, Veterans Financial is a privately held financial service company specializing in helping seniors in need of Assisted Living, Home Care, Nursing Home Care or Adult Day Care.
4. If I choose not to use the care provider that referred me to Veterans Financial, Inc., can I still use your services?
Yes, Veterans Financial works with more than 2,000 Assisted Living Communities, Nursing Homes, Home Health Care Agencies, and senior referral services. Regardless of who refers you to Veterans Financial we will provide you with assistance at no cost.
5. How does Veterans Financial, Inc. get paid?
Veterans Financial is a financial services company. Many families advised about benefits choose to implement a financial plan that we develop. Our goal is to ensure the individuals we assist are able to pay for their long-term care needs for the remainder of their life, without being forced to move from their community into a Medicaid facility. Our plans may include various financial and insurance products designed for these purposes. Additionally, many of the children of the clients we help with benefits use Veterans Financial to protect themselves against future long-term care expenses by purchasing a long- erm care insurance policy. In these cases Veterans Financial is paid by the companies with whom you choose to do business, and never by the family. If you do not need any financial services assistance, you will still receive the same outstanding level of service.
6. Does Veterans Financial, Inc. speak in public settings such as seminars or workshops?
Yes, Veterans Financial has excellent presentations available for both public and professional groups. In 2009, Veterans Financial agents presented at 423 workshops in 29 states. The most requested topic is the Veterans Administration’s Aid and Attendance Pension Benefit. We often speak at Assisted Living Communities, association meetings, and other groups or events geared toward seniors, senior living, and veterans. We do not charge for these speaking engagements.
Veteran’s Benefits FAQ
Q: How much money can I have and still be eligible for VA benefits?
A: The Veterans Administration code states “The decision as to whether a claimant’s net worth is excessive depends on the facts of each individual case.” They will look at income, monthly expenses, age, and the type of assets in determining “how much is too much.” Some online sources state that $80,000 is the limit, however Veterans Financial has years of experience that proves otherwise. The lowest asset level we have seen the VA deny as excessive net worth is $19,000. Conversely, we have seen people approved with hundreds of thousands in assets. This is Veterans Financial’s specific area of expertise.
Q: What if I can’t afford care without being awarded Aid and Attendance benefits, what can I do?
A: If you intend to start receiving care within a short period of time after submitting your application, the care provider you intend to use may be willing to provide a letter on your behalf stating what your expenses will be. If you absolutely cannot afford the care without the VA benefits, you should submit your application to the VA at your earliest convenience. the VA will either deny the claim because of excessive income or award the benefit, however, the VA will not pay out anything until medical expenses are incurred. An explanatory cover letter to the VA explaining your circumstances mailed along with your application may help your case.
Q: How long does it take to be awarded benefits?
A: The VA typically takes approximately six to nine months to award benefits, however some are approved much faster and others take much longer. Our experience shows that applications submitted from January through Mayare processed more slowly than applications submitted in other months, because the VA recertifies pension recipients between January 1 and March 1 each year. Once benefits are awarded, the VA pays retroactively back to the first of the month following the VA’s receipt of the application.
Q: Am I eligible for Aid and Attendance benefits if I am already receiving Dependency or Indemnity Compensation (DIC) Benefits,?
A: Compensation recipients may apply for Pension, but you will only receive the greater of the two benefits. Typically, if a Veteran is rated between 10-80% disabled, it makes financial sense to apply for Pension with Aid and Attendance. If you are receiving more than that, you are most likely receiving all that is available, however, there is no harm in applying. If you are receiving DIC benefits, you can only receive an additional $286 per month.
Q: What if I cannot locate discharge papers?
A: In some cases, the VA requests certified copies of discharge papers (DD-214), we encourage everyone to request a copy of their discharge through the National Archives. This is a free service and takes anywhere from two weeks to several months. You can request military records through the National Archives.
Q: What if I cannot locate marriage or death certificates?
A: These documents can typically be found at the courthouse in the county of marriage or death. Many states and counties offer these documents online. A simple “Google” search may provide you a resource.
Q: What if the Veteran and Spouse divorced?
A: Although we encourage spouses, where the Veteran is deceased and neither remarried, to apply, our experience is that the VA will deny benefits to the spouse of a veteran if they divorced.
Q: What if the Surviving Spouse remarries?
A1: If the Surviving Spouse is still married, then he/she can only apply if the current spouse is a Veteran.
A2: If the Surviving Spouse remarried a non-veteran, but is no longer married, we encourage you to apply, However, in our experience the VA will probably deny benefits.
