VA Amends Pension and DIC Regulations

The U.S. Department of Veterans Affairs (VA) recently amended its regulations governing entitlements to VA pension and Parents' Dependency and Indemnity Compensation, which are need-based programs. The new pension regulations cover the following: (1) establish a clear net-worth limit for income and assets for veterans to qualify for pension; (2) establish a 36-month look-back period to review asset transfers at less than fair market value; (3) establish up to a five-year penalty period; and (4) update medical expense definitions. The changes are intended to ensure VA only pays benefits to those veterans with a genuine need. For more information see this Paycheck Chronicles post.