In January of 2015, the Department of Veterans Affairs proposed rule changes that would significantly change the eligibility standards for VA pension benefits. The Department of Veterans Affairs proposed changes include:
- Establishing a clear net worth limit
- Creating a 36-month look-back period regarding asset transfers
- The imposition of a penalty period should the claimant have been found to make divestments during the look-back period
- Defining and clarifying deductible medical expenses
Additionally, other provisions that would likely impact the number of those eligible to receive benefits, or at least impact the eligibility process of those seeking benefits.
The Wait Continues for Finalized VA Pension Benefits Rule
More than two years later, we are still waiting to learn when the final rule will be published, and when the proposed changes will take effect.
Publication of the final rule has been delayed multiple times due to the complexity of rule and the large amount of comments received regarding the initial proposal. Krause Financial Services has recently learned the amendments to the 2015 proposal have been completed, however, because the final rule is still a draft, the VA is unable to share these amendments at this time. The rule is expected to undergo VBA concurrence by the end of August, with full VA concurrence to follow. The VA does not expect the final rule to be published before end of summer or early fall 2017.
Krause Financial Services will continue to update this information as it becomes available. We monitor all updates diligently and invite you to bookmark this page to stay up-to-date on the final rule.
We invite you to read the full 2015 Department of Veterans Affairs proposal.