NewsBytes January 19, 2024
In this issue:
Another Temporary CR to Avert a Government Shutdown
Last Call for FRA Member Benefits Survey
SecDef Released from Hospital
VA Life Insurance
Another Temporary CR to Avert a Government Shutdown
Congressional leaders have reached a deal to avert a partial government shutdown on January 19, 2024, with another two-step stopgap Continuing Resolution (CR-H.R. 2872) that will keep the government open into March. The deal provides new government funding deadlines until March 1 and March 7. The agreement comes ahead of Friday’s shutdown deadline, and a second deadline on Feb. 2. The House and Senate must approve the agreement by Friday night to avoid a partial shutdown. The CR will give the House and Senate more time to complete work on the 12 appropriations bills. Congressional leaders announced a deal on top-line spending numbers last weekend, but appropriators need more time to hash out particulars in each funding bill. As Newsbytes goes to press, the Senate is expected to pass the measure and send it to the House. It is not clear if the House has the votes to pass the CR.
In the event of a shutdown, military retirees will continue to be paid and get their TRICARE benefits because funding for these benefits is not required to be appropriated by Congress (mandatory funding). Social Security and Medicare will also continue to operate. Those receiving veterans’ benefits will continue to receive them because the Department of Veterans Affairs has two-year funding and already has funding for FY2024. However, during a government shutdown, active-duty uniform service members will not be paid until Congress passes a budget or Continuing Resolution. That is why the FRA is supporting the “Pay Our Troops Act” (H.R. 5641/S. 2835) sponsored by Rep. Jen Kiggins (Va.) and Sen. Dan Sullivan (Alaska) respectively. This legislation mandates that members of the Armed Forces, both reserve and active duty, will be paid during a shutdown. Also, Coast Guard, DoD civilian employees, and Defense contractors will continue to be paid. Members can weigh in on this issue at: https://www.votervoice.net/FRA/Campaigns/108007/Respond
Last Call for FRA Member Benefits Survey
As part of its mission to convey member concerns to Capitol Hill, the FRA is conducting an online survey to determine the most crucial military and veteran benefits for active duty and Reserve personnel, retirees, veterans, and their families. The brief survey invites current and former members of the uniformed services, as well as their spouses, to rate various benefits and quality-of-life programs linked to their service to our nation.
The FRA urges all current and former military personnel and their spouses to share opinions on the programs they value most. Survey responses and participant comments offer the legislative team vital reference information for Congressional testimony and one-on-one meetings with lawmakers and their staff. Survey results are shared with elected officials on Capitol Hill, key committee staff, and leaders within the Departments of Defense, Homeland Security, and Veterans Affairs to ensure a comprehensive understanding of the sea service perspective. The survey will end on Tuesday, January 23rd. Access the survey at:
SecDef Released from Hospital
The Department of Defense (DoD) announced that Defense Secretary Lloyd Austin was released from the hospital after spending two weeks there to treat complications from surgery for prostate cancer he kept secret from the White House and DoD staff for weeks.
Austin will be working from home as he recovers, and his doctors claim he “progressed well throughout his stay, and his strength is rebounding.” They said in a statement the cancer was treated early, and his prognosis is “excellent.”
VA Life Insurance
The Department of Veterans Affairs (VA) recently announced that its new guaranteed-acceptance insurance program, VALife, has issued more than $950 million in coverage to 31,400 veterans in its first year.
When VALife first launched in January 2023, it became the first new VA life insurance program for veterans in more than 50 years and extended life insurance access to millions of veterans. VALife provides up to $40,000 of whole life insurance for veterans. For all veterans age 80 or under with service-connected disabilities from 0-100%, acceptance in the program is guaranteed, and no medical underwriting is required. Veterans can apply online through VA.gov and receive an instant decision. This program also allows self-service functions like electronic payments and beneficiary updates.
The VA is now providing 5.6 million veterans, service members, and their families with $1.5 trillion of insurance. “All veterans deserve to know that their families will have financial support when they pass away,” said Secretary of Veterans Affairs Denis McDonough. “VALife helps make that happen, providing well-earned peace of mind to Veterans and their families nationwide.”
The VA claims that VALife premium rates are competitive with, or better than, rates for policies with similar coverage available in the private sector, and $40,000 of coverage is more coverage than what other similar products offer. The policy will build cash value after the first two years of coverage when the face value goes into effect. If a veteran passes away during this two-year waiting period, the named beneficiary will receive all premiums paid plus interest. VALife does not offer a waiver of premiums.
VA currently serves nearly 5.6 million Veterans, service members, and their families with $1.5 trillion of insurance. Veterans currently enrolled in the Disabled Veterans Insurance (S-DVI) have the option to keep their current coverage or switch to VALife. These veterans can apply for VALife at any time; however, if they apply before Dec. 31, 2025, they can also retain coverage under S-DVI during the two-year waiting period for the VALife death benefit to go into effect.