Disability Lump Sum

[Fletch]

Wouldn't it be more cost effective to offer vets lump sum buy outs? A friend of mine and I were talking about this. Say you are 50% or more SC'd. You would qualify for it. The option would be up to the vet. If you were 50% or more SC'd you could receive lets say 1 million dollars and not be eligible to receive treatment from the VA facilities. You would be on your own from that point on. There would still be the ability to claim disabilities that got worse over time. That would obviously, if approved for an increase, qualify the vet for another lump payment of X amount of dollars. 1 Million would seem fair. If you look at my case, I've had 9 surgeries that were in the 10's of thousands each and pending more. I do have my own private insurance to cover me. I think that over time, it would save the VA all kinds of money and if the vet that got this lump sum invested wisely, the vet could live a comfortable life from the interest earned.

Whatcha think?

[mags1023]

I think you are having hallucinations :) Or you are looking for a bank roll to get you started on the WPT in Vegas :) $250k might be more doable, but you'll never see it.

[Pete53]

Over time there is some security and peace of mind in keeping it the way it is.

[Fletch]

Too true Pete. Just curious. LOL!

[Chuck75]

Cost effective for who?

A veteran has a strong chance of actually loosing money in a lump sum. The government will use actuarial tables to figure the lump sum, and believe me, the payout will be most favorable to the government. The next issue is that the government would rather not pay now when it can pay later. Finally, you can bet that if there is any way possible, lump sums would be taxable. (possibly by a tax similar to the "wind fall profits" tax.) The veteran would likely also have to sign an absolute release absolving the government of any further liability for service connected issues, or the veteran would be blocked from filing future claims for X years. The VA specifically is NOT your friend.

I do think that a veteran with private insurance and or medicare should be able to use community medical resources, and that the insurance premiums should be reimbursable, including any insurance "co-pay", or "out of pocket" payments.

Perhaps the major problem with the VA/government and "compensation" is that the compensation does not fully compensate the veteran by any standard.

Wouldn't it be more cost effective to offer vets lump sum buy outs? A friend of mine and I were talking about this. Say you are 50% or more SC'd. You would qualify for it. The option would be up to the vet. If you were 50% or more SC'd you could receive lets say 1 million dollars and not be eligible to receive treatment from the VA facilities. You would be on your own from that point on. There would still be the ability to claim disabilities that got worse over time. That would obviously, if approved for an increase, qualify the vet for another lump payment of X amount of dollars. 1 Million would seem fair. If you look at my case, I've had 9 surgeries that were in the 10's of thousands each and pending more. I do have my own private insurance to cover me. I think that over time, it would save the VA all kinds of money and if the vet that got this lump sum invested wisely, the vet could live a comfortable life from the interest earned.

Whatcha think?

[Pete53]

Remember when some wanted us to invest in our own Social Security Retirement?

[Berta]

It is almost the same reason that I tell vets who have been malpracticed on to consider the difference between FTCA and Sec 1151 awards.

I invested my FTCA award- not everyone can do that-

The VA illegally withheld 10 years of my DIC-I already ran that by here many times-

but still for vets with both FTCA settlement and then 1151 award for same thing-

best often to take the 1151 instead of even sueing-

Friend of mine is still greatful I talked him out of FTCA as in his case he gets 100% and SMC under 1151 and the FTCA lump sum would be long gone with no monthly VA check-

He also got a VA retro of 8,000 for something 2 years ago and spent every penny of it in a week.

This idea has been talked about in the electronic vets community since the 1980s and luckily it has not gotten any momentum.

It is bad enough that you men and women get retro in past year dollar values-with no interest-

let alone allow VA to buy us all off easily.