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.
This is different from the way an Aid and Attendance applicant currently applies because the VA will only look at a current snapshot of the applicant's assets, income, and expenses at the time the application is received. With the possibility of the 3 year look back change there would be more paperwork involved in the application process as well as many veterans and spouses becoming ineligible for the benefit.
Our sources say this rule will be implemented in the first half of 2017. While we cannot confirm the exact date of the 3 year look back period being added, it may be best to try to obtain the Aid and Attendance Benefit NOW, rather than waiting until next year.
To find out if you are eligible for the A&A benefit use our eligibility calculator.
Use A Place for Mom's free Veterans Benefits Guide here.
Note: The applicant needs to be paying for care in order to qualify for this benefit. Whether that is in-home care or senior housing, if you need help getting started with your senior care search, please start here.
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.