Question:
Jim, Your new posting of the " New Final Rule--VA Pension Program" should have everybody at attention. Myself have only read up to page 18 and already my head is spinning. I do plan to read it through. Just wanted to ask if the VA WATCHDOG will be publishing a more reader friendly version? The 100+ pages is hard to digest and walk away with how to apply it. Being 100% TDIU, are they saying if a persons net worth is over $130 K benefits will be reduced?
Jim's Reply:
The new VA Pension program & look back is directed to pensions, not disability benefits. A pension benefit is a means (financial status) tested award for honorably discharged veterans who aren't eligible for service connected disability benefits, over age 65, and who are permanently and totally disabled. Pension-eligible veterans must show income and assets that are below certain thresholds to be eligible for the benefit and the dollar amount of the benefit may scale to any income the veteran has. The yearly income requirement is pretty clear cut...an income below the poverty level in the veteran's region is the usual standard. Then there are the real assets that many older veterans may possess such as real estate and some savings vehicles like IRAs, SSA benefits, stocks and bonds. In the past there have been certain creative methods used to bypass or soften the impact of some of the requirements that the veteran would have to let go of assets to qualify for pension. The new rule tightens up those requirements and provides a "look-back" to review recent claims that may not be perfectly legit in the eyes of the VA. The new pension program and look-back won't have any effect on veterans disability benefits such as the TDIU rating. Veterans disability benefits are not means tested and are awarded only on the merits of the disabling conditions. You could win the Lotto or inherit your old Aunt Gertrude's millions and her mansion and her 7 cats and your TDIU benefit won't be affected. AND, thank you for the suggestion that I publish something at the VAWatchdog to clear up any mystery about this...I'll do that!