Dept. of Veterans Affairs Publishes Final Rule for Needs-Based Benefits: General Overview

On September 18, 2018, the Department of Veterans Affairs (“VA”) published its final rule for needs-based benefits, including the VA pension program that assists many of our clients with long-term care related expenses. The new rules, which will become effective on October 18, 2018, establish net worth, asset transfer, and medical expense deduction requirements, and further address various other issues raised in the over 850 comments received by the VA during the public comment period that ended March 24, 2015. I will be addressing the changes over the course of several newsletters, and anticipate that our first seminar on the change will occur in October 2018. Benefits Affected Throughout this process, the VA has made it clear that Congress intended the pension benefit to be a needs-based benefit, which they define as meaning that the claimant’s income, or both the claimant’s income and assets, is factored into entitlement consideration.  The final…

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