Veterans Administration Introduces New Amendments That Impact Veterans Pension
The regulation changes are effective
Net Worth : Will be evaluated against a fixed limit of$123,600 . The limit is based on the Medicaid maximum community spouse resource allowance and will rise slightly over time in accordance withSocial Security cost of living adjustments.- Look-back Period: A claimant who makes an uncompensated transfer after
October 18, 2018 and within 36 months prior to their date of application may be subject to a penalty period not to exceed 5 years. - Primary Residence: The claimant's primary residence will remain an exempt asset regardless of value, however, the new regulation states that the residential lot area cannot exceed 2 acres.
- Medical Definitions: The amendments include clarification on certain medical definitions and allowable medical deductions.
There are a number of other important changes that may drastically impact a claimant's eligibility as well as their planning options. If you have questions about your current
Contact:
713-333-8900
www.mcmfirm.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/veterans-administration-introduces-new-amendments-that-impact-veterans-pension-300717088.html
SOURCE
Physician Dispensed Cosmeceuticals Market to Observe Strong Development by 2024
The Latest: Ocracoke Island accessible by ferry once again
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News