Continuing with our Veterans Pension Series, Wes Coulson discusses the possibility of the VA approving a similar Look-Back Rule that Medicaid has and what that may mean for you.
Will the VA approve a Look-Back Rule?
Transcript:
Hello, I’m Wes Coulson with your Elder Law Minute. I want to continue our series of discussions about Veterans Pension Benefits.
Today, I’d like to talk about whether the VA has a look-back rule like Medicaid. A look-back rule is a rule that says your eligibility is delayed if you’ve given away assets within a certain amount of time before applying. As of right now, In August 2015, the VA does not. So, in planning we can help people in asset transfers right before they apply to establish eligibility. That may, however, be changing. The VA has proposed new rules that would take effect sometime next year that would impose a three-year look-back rule. We don’t know yet exactly how that would operate. We don’t even know whether that would be passed. One thing we can tell you is that if you are looking into the possibility of getting these benefits, now is the time to do it because you are much better off without a look-back rule than with whatever one they might pass.
For more on Veterans Pension Benefits, try these articles:
- Levels of Benefits
- Difference between Service Connected Disability and Pension Benefits
- Military Service Requirements for Establishing Eligibility
For more on the Medicaid Look-Back Rule:
Dent-Coulson Elder Law is dedicated to providing families in the St. Louis area with their Elder Law needs. Our practice areas include Asset Preservation Planning, Veterans Benefits, Medicaid Eligibility, Alzheimer’s Planning, Special Needs Planning, Estate Planning and more. We understand the financial challenges you may face as you and your loved ones grow older. At Dent-Coulson Elder Law, our clients’ well-being is our number one priority. For immediate help, call (877)995-6876 or Contact Us and we will get in touch as soon as possible.
