VA Proposes New Rules that Would Have Major Impacts For Needs-based Pension Program

On January 23, 2015, the Department of Veteran Affairs proposed rules that would have a major impact on requirements for needs-based pension programs. These rules, as proposed, would establish a three year look-back for asset transfers, a clear net worth limit tied to the Community Spouse Resource Allowance for Medicaid, how the VA calculates assets, provide new requirements pertaining to pre-application asset transfers and net worth evaluations to qualify for VA pension, and define and clarify what VA considers to be a deductible medical expense for all of its needs-based benefits. There are also proposed changes regarding annuities and trusts used for the purpose of reducing assets.

You can review the proposed rule in The Federal Register at the link below. All comments are due before March 24, 2015.

https://files.ctctcdn.com/964aa9da001/cacb728d-f0d3-4831-974c-c828d4ebb374.pdf

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