Iowa Admin. Code r. 801-14.3 - Eligibility
Veterans, their spouses, their dependents, and unremarried spouses of deceased veterans applying for benefits available under subrules 14.4(1) through 14.4(9) must meet the following threshold requirements. Regarding funding from other sources, applications shall not be approved if the applicant is eligible to receive aid from other sources to meet the purposes authorized in this chapter.
(1)
Income. The department may not pay benefits under this chapter
if the available liquid assets of a veteran are in excess of $20,000. For the
purposes of this chapter, an applicant's household income, including VA pension
benefits, service-connected disability income, and social security income,
shall not exceed 300 percent of the federal poverty guidelines for the number
of members living in the primary residence in effect on the date the
application is received by the county director of veterans affairs. Federal
poverty guidelines shall be those guidelines established by the Iowa department
of human services for the veteran's family size. The commission shall adjust
the guidelines on July 1 of each year to reflect the most recent federal
poverty guidelines.
(2)
Resources. For the purposes of this chapter, "available liquid
assets" means cash on hand, cash in a checking or savings account, stocks,
bonds, certificates of deposit, treasury bills, money market funds and other
liquid investments owned individually or jointly by the applicant and the
applicant's spouse, unless the applicant and spouse are separated or are in the
process of obtaining a divorce, but does not include funds deposited in IRAs,
Keogh plans or deferred compensation plans, unless the veteran is eligible to
withdraw such funds without incurring a penalty. Cash surrender value of life
insurance policies, real property, established burial account, or a personal
vehicle shall not be included as available liquid assets.
(3)
Additional requirements and
limitations. Applicants must meet any additional requirements and are
subject to any limitations which may be set out in this chapter or which may be
established for a particular benefit.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.