Just announced on 17 March 2015 and effective as of 2015, the VA has eliminated the use of net worth as a determining factor for both health care programs and copayment responsibilities. The intention is to make the program more accessible to low-income veterans. The VA estimates this may affect only 190,000 Veterans over a five year period, but VA estimates can be wrong.
Now only gross household income (income before taxes) and deductible expenses from the previous year will be considered, but one’s assets, such as a home, are not considered in determining eligibility due to income.
You may remember also that in March 2014, the VA eliminated the annual requirement for updated financial information. It now uses Internal Revenue Service and Social Security Administration to automatically match individual Veterans’ income information which reduces the burden on veterans to keep their healthcare eligibility up to date after first applying – something other federal health care organizations had been previously doing.
Veterans may submit updated income information at www.1010ez.med.va.gov/, or by visiting their nearby VA health care facility.
For more information, visit www.va.gov/healthbenefits or call VA toll-free at 1-877-222-VETS (8387).
As of 18 March 2015