Senate Bill 1982, which among other measures would have created a three-year asset look-back for veterans applying for Veterans Aid and Attendance benefits, has failed in the Senate.
Veterans Aid and Attendance is a type of improved pension. Elderly and disabled veterans who have served during wartime periods, and their widows, may be eligible for the benefits to help pay for at-home, nursing home, or assisted living care. You can find out more about Aid and Attendance and download a booklet about it from our website's V.A. benefits page.
For now, the current asset rules remains in place: An applicant may have no more than $80,000 in assets, and the V.A. will not penalize for any asset transfers that occurred prior to the date of application.
A note of caution: Although Congress has failed to act, the Veterans Administration itself has the power to change its regulations - including establishing a look-back period. We will keep an eye on developments.