Hey veterans, did you know?

... Purple Heart recipients are exempt from home loan funding fees?

If you are in the market for a VA home loan and have been awarded a Purple Heart, you will be able to save thousands of dollars on your loan. The Purple Heart Medal is a combat decoration awarded to members of the armed forces of the U.S. who are wounded by an instrument of war in the hands of the enemy.

Purple Heart recipients will be exempt from the funding fee that the Department of Veterans Affairs charges on its guaranteed home loans.

... the PACT Act will provide more benefits?

Millions of veterans are expected to have access to VA health care and benefits as a result of the recently-approved PACT Act, including: • An estimated 3.5 million post-9/11 veterans exposed to burn pits • Approximately 52,000 veterans exposed to Agent Orange while serving on Guam, American Samoa and Johnston Island • An estimated 15,000 U.S. service members deployed to a former Soviet airbase in Uzbekistan called Karshi-Khanabad (K2) • Approximately 1,600 Palomares, Spain, nuclear cleanup veterans • Approximately 4,000-plus Eniwetok Atoll nuclear cleanup veterans • Approximately 500 Thule, Greenland, nuclear cleanup veterans

... how a surviving spouse can receive benefits?

For a spouse to receive DIC VA Benefits, a service-connected disability or one presumptive of military service must be listed on the death certificate as a primary cause of death or a contributing cause of death.

Be sure the person that will sign the veteran’s death certificate (at the funeral home or a medical person at a hospital) is aware of any and all service-connected disabilities that could have caused or contributed to the Veteran’s death (Item 35, Part II -n an Death Certificate).

This will help the spouse file a successful claim to receive VA benefits after the Veteran’s death.

To get more info, visit www.va.gov/disability/dependency-indemnity-compensation/

… there are changes in dependency, spouse compensation?

The Dependency and Indemnity Compensation (DIC) benefit paid by the VA to survivors of certain deceased veterans will be increasing by 8.7% for 2023. The basic monthly tax-free DIC benefit will increase from $1,457.66 for 2022 to $1,584.48 for 2023.

In 2023, affected surviving spouses who receive DIC and Survivor Benefit Plan (SBP) payments from the deceased veteran's military service will no longer see their SBP payments decreased by the monthly DIC amount. This is due to the phaseout of the so called "widows tax" that becomes complete in the upcoming year.

… business loans are available?

Low-interest loans and other benefits are available in Washington for certified veteran business owners. It’s a simple process to receive this certification: • Display proof that you are a honorably-discharged veteran • Proof of 51% ownership in a business • Proof that business is a Washington enterprise

If you meet these conditions, you can be eligible for a “Linked Deposit” loan, which is a state-backed business loan with up to 2% lower interest rate. You also can have your business displayed on the Veterans Affairs public site, which can increase your visibility for state agencies needing products and services from vendors.

Washington state laws requires that 5% of all contracts go to veteran-owned businesses. They are chosen from the Veterans Affairs public site.

Applying for certification costs you nothing and can be completed in person or online. Contact the Washington State Department of Veteran Affairs for more information and start the process. Call 800-562-2308 or www.dva.va.gov or in Spokane County call the Spokane County Regional Veterans Center at (509) 4773690.

… you may receive more money in 2023?

The U.S. Senate recently passed HR 7846, known as the Veterans' Compensation Cost-of-Living Adjustment Act of 2022. It will now head to the president's desk for signature. Certain VA benefits including disability compensation, clothing allowances, and dependency and indemnity compensation for survivors will receive the same cost-of-living adjustment as Social Security benefits. The increase is expected to be higher than in recent years to account for inflation. The adjustment will go into effect on Dec. 1, 2022, and the first checks to reflect the new rate will be on Dec. 31, 2022.

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