PUBLIC POLICY COMMITTEE CHAIR: JIM BROWN COMMITTEE MEMBERS: LISA MALPASS | JAN ZAGER | NANCY LEE | JERRICA SEEGER
Net Worth, Asset Transfers, and Income Exclusions for Needs-Based Benefits
The Department of Veterans Affairs (VA) proposes to amend its regulations governing entitlement to VA pension to maintain the integrity of the pension program and to implement recent statutory changes. The proposed regulations would establish new requirements pertaining to the evaluation of net worth and asset transfers for pension purposes and would identify those medical expenses that may be deducted from countable income for VA's needs-based benefit programs. The intended effect of these changes is to respond to recent recommendations made by the Government Accountability Office (GAO), to maintain the integrity of VA's needs-based benefit programs, and to clarify and address issues necessary for the consistent adjudication of pension and parents' dependency and indemnity compensation claims. We also propose to implement statutory changes pertaining to certain pension beneficiaries who receive Medicaid-covered nursing home care, as well as a statutory income exclusion for certain disabled veterans and a non-statutory income exclusion pertaining to annuities.
Senate Bill 5302 “TRUSTS--TRUSTEE'S DELEGATION OF DUTIES--INVESTMENTS--STATUTORY TRUST ADVISORS” passed on 7/24/2015.
View the Final Bill Report.
Affordable Healthcare Act Supreme Court Decision June 28, 2012