Test Your Knowledge of Eligibility Requirements for Veteran Needs-Based Benefits
The Veterans Administration Final Rule 8320-01 went into effect on October 18, 2018. This rule established new financial eligibility qualifications for Department of Veterans Affairs needs-based benefits, including Aid and Attendance.
Which of the following eligibility qualifications are included in this rule?
A. To be eligible for benefits in 2019, a veteran’s net worth must be equal to or less than $126,420, which is also the community spouse resource allowance for Medicaid eligibility. Annual increases in the net-worth limit will be linked to the social security cost-of-living increase.
B. One primary residence with up to two acres, vehicles, and personal items can be excluded from the net-worth calculation.
C. There is a 36-month look-back period for the transfer of any asset that occurs after October 18, 2018, for less than fair market value, including transfer to a trust or an annuity. Five years is the maximum penalty period for an asset transfer that occurs during the 36-month look-back period.
D. Unless there is clear and convincing evidence, the Department of Veterans Affairs will presume that assets were transferred for less than fair market value to qualify for a benefit.
E. All of the above.