In 2022, the United States military consisted of roughly 1.2 million active personnel. This makes it the third-largest army in the world in terms of sheer manpower. Those who are actively serving or have served in the past chose to represent this country and serve its interests both domestically and around the globe.
Military service can be a huge sacrifice, taking people away from their families and often putting them in danger. This honorable career path is often missing the amount of gratitude it deserves from society as a whole. However, in an attempt to serve active service members, veterans, and their families, the Department of Veterans Affairs exists to provide benefits to this population.
While active service member and veteran care may not be where it should be in the United States, there are still plenty of positives that come from the VA. In particular, this branch of the government is designed to help veterans re-acclimate to civilian life and build a bright future. Let’s dive into what the VA does and how it can help you save for financial freedom.
Vast Healthcare Network
One of the most important benefits of the Department of Veterans Affairs is its support of a vast healthcare network that specifically serves veterans. Healthcare is often a huge need for veterans, especially if they have significant injuries, illnesses, or disabilities that they acquired because of their service. Even without a service-related injury, health needs tend to increase with age, and the Veterans Health Administration seeks to serve military veterans to make healthcare more affordable. When you are enrolled in this plan, you have access to lower-cost healthcare, allowing you to spend your money on other things like saving for retirement or traveling.
Veterans Benefits
One of the primary purposes of the VA is to provide veterans with significant benefits that can ease their transition into civilian life and set them up well for the future. There are many programs included under the umbrella of veteran benefits.
VA Disability Payments
If you have a service-related injury or illness, then you may be eligible for disability payments. These payments come in the form of tax-free installments that you receive monthly, and the level of compensation depends on the type of disability and its impact on your life.
If you file a claim and receive a response like “VA claim denied, not service-connected,” then you may need professionals to help you fight for your rights.
Educational and Career Resources
Getting back into civilian life can be a hard transition. You may wonder how your skills learned in the military can translate into a role in society. The VA provides free counseling and coaching regarding education and career advancement to help you determine a path for the next stage of life that generates more income.
VA-Backed Home Loans
Buying a house is a goal for many Americans, and veterans, active-duty personnel, and surviving spouses can take advantage of VA loans to make homes more affordable. Benefits of these loans include lower interest rates, no down payment requirement, and no mortgage insurance premiums. With a more affordable home, you will be able to save significant cash while buying a house.
National Cemeteries
When veterans pass away, they must be honored for their service to the United States. To this end, the VA has a network of national cemeteries that are protected and reserved for veterans and active-duty service members when the time comes for a burial. Burial services are made available to all families of veterans, as well as commemoration in the digital Veterans Legacy Memorial to ensure their service is never forgotten.
How Can the VA Serve You?
As mentioned previously, the entire purpose of the Department of Veterans Affairs is to serve veterans, active-duty personnel, and their families, both during and after their years of service. Many of the benefits provided by the VA allow you or your family to save money. The vast network of healthcare practices and services ensures that you receive the best healthcare at an affordable price.
Benefits programs like the disability initiative ensure that those with service-related injuries are taken care of with regular income. Va-backed home loans can make ownership more affordable so that you can spend your hard-earned money on other expenses. Finally, the enshrined national cemeteries will ensure that your legacy is honored and remembered when you pass on after serving this country, lowering burial costs for your surviving family members.
If you have served in the United States military, take advantage of all the benefits that the Department of Veterans Affairs has to offer so you and your family can have a brighter financial future.