If you’re a veteran, one of the available Veterans Affairs (VA) benefits available to you is coverage for long-term care services for service-related disabilities. The VA also helps pay for veterans who do not have service-related disabilities but are not able to pay for the cost of necessary care. Co-pays may apply, depending on your income level. Nursing home care and at-home care for aging veterans with long-term needs is also a VA benefit.
What long-term care service include:
- Round-the-clock nursing and medical care
- Physical therapy
- Help with daily tasks like bathing, dressing, making meals, and taking medicine
- Comfort care and help with managing pain
- Support for caregivers who may need skilled help or a break so they can work, travel, or run errands
Where to get long-term care:
Some care settings may be run by VA. Other options include facilities run by state or community organizations that the VA inspects and approves. Care settings may include:
- Nursing homes
- Assisted-living centers
- Private homes where a caregiver supports a small group of individuals
- Adult day health centers
- Veterans’ own homes
How to access these services:
First, sign up for VA health care, if you’re not already enrolled.
Once you’re signed up, contact your VA social worker to find out how to access the relevant services for you. During the process, the VA will
- assess your service-connected disability status or insurance coverage
- determine the specific service to help with your ongoing treatment and personal care
- identify which services and/or care settings are available near you
The services that you qualify for are based on your current need for care. If a long-term facility or residence is not necessary for your care, options for home health care include:
- Skilled home health care which brings health care providers from a community-based home health agency to your house to provide care such as wound care, physical therapy, social work support, and help with daily tasks.
- Home Telehealth where a VA care coordinator keeps track of your health remotely using special equipment in your home and will check in with you by phone, if needed. If there are any signs of a problem, your care coordinator will work with you and your VA doctor and nurse to figure out what to do next.
Other VA benefits that can help you manage life:
In addition to investigating long-term care services, you may also qualify for VA disability benefits. These benefits provide monthly tax-free compensation (pay) to veterans with confirmed disabilities related to active military service. If you got sick or were injured while serving in the military or active military service made an existing condition worse, you may qualify for disability benefits for physical conditions (like a chronic illness or injury) and mental health conditions (like PTSD) that developed before, during, or after service.
Renter’s insurance: Why your landlord’s coverage doesn’t cover you
With the current super-hot housing market, more people are staying in rentals. You might view this as an opportunity to save on insurance, but to protect your financial health, you ought to consider renter’s insurance to protect yourself. It’s true that skipping renter’s insurance might save you $15 a month. If you never need to file a claim, you come out a little ahead. But, if you are faced with disaster, replacing your wardrobe, laptop, furniture, or facing a lawsuit for damages can really set you back.
Why doesn’t my landlord’s policy cover me?
The homeowner’s policy covers the structure of the building, but not the tenant’s personal belonging. If your TV is stolen or your wardrobe damaged in a fire, you’ll bear the cost of replacing lost items. If the structure is damaged, the landlord’s policy cover the cost of repair. It won’t cover you expenses if you need to stay somewhere else while the building is being repaired though.
What will a renter’s policy protect?
There are several ways that a renter’s policy protects your finances:
- Liability coverage. A lawsuit can wipe your savings. Fast. And that’s if you even manage to have some savings. Renter’s liability coverage protects you by covering the cost of a lawsuit up the limit you purchase. Bonus: you’re covered even when the incident takes place away from home. Libaility coverage will also coverage damage you cause, like your dog biting someone at the park or flooding the apartment below you and damaging your downstairs neighbors heirloom rug. Your neighbor might not sue you for damages, but you’ll be able to cover the replacement costs.
- Personal property coverage. A renter’s policy protects your property in the rental space, everything from dishes to dustbusters. If you’re like most of us, it’s likely you have more than you think and the value to replace it is higher than you might guess. Personal property coverage also covers your property away from home, if say, your laptop gets swiped from the local cafe or you have a comic book collection stashed in a storage unit.
- Loss of use coverage. While losing property and replacing it is a bigger expense than you might predict, in some situations, you might lost more than property. You might temporarily lose a place to live. A disaster like a flood or fire can force you from the property for the duration of the repairs. Can you afford to live several weeks in a hotel and pay for restaurant meals during the dislocation? Renter’s insurance covers the expenses associated with ‘loss of use.’
How much coverage do you need?
Good question. Take an inventory of what you own–furniture, clothing, electronics, kitchen gadgets — and estimate how much it would cost to replace all of it. Then round up to the nearest $10,000. That’s the minimum amount you should have for personal property coverage. For your liability limit, have at least enough to cover your net worth. To calculate your net worth, from the value of everything you own (your assets) subtract all that you owe (debt/liabilities).
What’s the bottom line?
Protecting your finances is really the bottom line on renter’s insurance. The coverage is probably cheaper than you think. If you have an auto policy and can bundle your renter’s policy with it, you’ll save even more. The peace of mind it provides will be well worth packing your lunch a few days a month to cover the monthly premium on your policy.
