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June 27th, 2017
Washington, D.C. – Today, U.S. Representative Seth Moulton (MA-06) re-introduced a bill that would protect older, low-income veterans from financial scams. The bipartisan Veterans Care Financial Protection Act would direct the Department of Veteran Affairs (VA) to work with other federal agencies and states to develop and implement standards that protect veterans from predatory practices. Reps. Matt Cartwright (PA-17), Jim Renacci (OH-16), Steve Cohen (TN-09), and Ted Deutch (FL-22) were original co-sponsors of this legislation.
The VA offers an Aid and Attendance (A&A) benefit for veterans who qualify for a VA pension and need financial help with in-home care or assisted living. The A&A application is free, but scam artists have targeted veterans and charged them to obtain these benefits. With this information, scammers can take ahold of the veteran’s assets, and may even move them into an irrevocable trust or an annuity. This movement of assets may also disqualify the veteran from other assistance, such as Medicaid.
“I am proud to support this bipartisan effort to protect veterans who receive VA funded assistance from becoming the victims of financial scams. Our veterans deserve the best health care in the world and should be protected from financial predators,” said Moulton.
“These scams are completely unacceptable and appalling,” said Cartwright. “There needs to be greater protections for our nation’s heroes. This bill will put a stop to these predatory financial scams, and help ensure veterans receive their hard-earned benefits.”
U.S. Senators Elizabeth Warren (D-MA) and Marco Rubio (R-FL) introduced companion legislation in the Senate.
“The Aid and Attendance program is a critical lifeline for the thousands of older veterans who just need a helping hand for basic daily activities,” said Warren. “Unfortunately, the program is being undermined by scams, putting our veterans at even greater financial risk and wasting taxpayer dollars. This legislation will help put a stop to these financial scams and ensure that we honor our commitments to our veterans.”
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