Earlier this month, the Department of Veteran Affairs’ new final rule went into affect, which significantly impacts the VA Pension, the Aid & Attendance Benefit and some other needs-based benefit programs. Those who work with Veterans should be aware of these changes when advising clients. Many of the changes affect certain eligibility requirements, including:
- Net worth – The new regulations establish a net worth limit to qualify for VA pensions at $123,600, the current maximum community spouse resource allowance (CSRA) for Medicaid purposes.
- Asset transfers – The new rule establishes a new 36 month look back period with asset transfer penalties of up to 5 years of benefits.
- Deductible medical expenses – The new rule spells out what medical expenses can be deducted from countable income.
- Income and asset exclusions – The new rule includes an extensive list specifying the types of payments that are excluded from countable income and/or assets for the purpose of determining entitlement to any financial need-based VA benefit.
- Medicaid-covered nursing home care – The new regulations implement statutory changes for VA pension beneficiaries who receive Medicaid-covered nursing home care.
For more information, see our partner’s, Justice in Aging, new fact sheet.