Proposed Veteran's Administration Regulation AO73 Update
The Proposed Rule AO73 ‐ Net Worth, Asset Transfers, and Income Exclusions for Needs‐Based Benefits - could have a devastating effect on the Aid and Attendance benefit.
The stated intention of the change is to implement a 3 year look back period to eliminate veterans transferring assets simply to qualify for the VA’s Basic Pension with Aid and Attendance. This is similar to Medicaid lookback. However, the bulk of the rule is dedicated to making it more difficult for veterans and their surviving spouses to qualify for this benefit.
Our sources say this rule may be implemented as early as the beginning of 2016 because there are pending changes currently being made by the VA but the VA has not stated yet what these changes may be. While we cannot confirm the definite addition of this regulation, it may be best to try to obtain the Aid and Attendance Benefit NOW, rather than waiting until next year.
We want to keep VeteranAid.org's users informed and will stay on top of this proposed rule as best as we can to get the updates out to you all as soon as possible.