A Tribute to Veterans on This Veterans Day 2021
Last year marked the 75th anniversary of the end of WWII, the 70th anniversary of the beginning of the Korean War, and the 30th anniversary of both the end of the Panama Invasion and the beginning of Desert Shield.
Today we honor the dedication and sacrifice of the United States military service members on this Veterans Day 2021.
Although a lot of us have the day off from work and will be spending time with friends and family, I thought today would be a great time to give you my thoughts on how service members can gain the most out of their federal veterans benefits.
Sometimes it can be challenging to figure out what kind of benefits are available to veterans, and my hope is this tribute to them can ease any potential financial strain they’ve inherited since returning from the various conflicts in our nation’s history. If you happen to be one of our heroes that was willing serve us and our country, please take a look below at the most important aspects of federal veterans benefits available to you:
First, the Veterans Health Administration provides health care for former service members and all veterans are eligible for VA hospital and outpatient care (unless a dishonorable discharged was issued). While VA funding is impacted by Congress and changes year-to-year, anyone reading this insight can contact their Senator or Congressman here: Elected Officials | USAGov
The VA oversees financial programs available for eligible veterans – including service-connected compensation and service-connected pensions. Service-connected compensation is a disability compensation structure for any injuries or diseases that occurred while on active duty or were made worse by military service. Service-connected pensions aid veterans and their spouses in order to utilize benefits to help pay for long-term care.
Please keep in mind that the VA takes into consideration certain expenses paid by you – such as those related to medical care, education, or the last illness or burial of a dependent (be aware this is based upon calculating your countable family income). Also, some sources of income will not reduce your pension benefit – including supplemental security income, welfare benefits, and some wages earned by dependent children.
Lastly, don’t assume you don’t qualify for benefits if you are a veteran. You can apply for federal benefits here: Applying for Benefits - Veterans Benefits Administration (va.gov)
If you’re a veteran, please don’t hesitate to reach out to me or our office if you need help navigating your personal finance situation and any benefits questions you may have. If you’re an ordinary citizen reading this and have the privilege of running into a veteran, I would just ask that you look them in the eye, shake their hand, and thank them for their service.
~ Presented by Dan LaNasa