The American Rescue Plan: What Vets Need to Know!

You’ve seen it in the news. The federal government recently passed the American Rescue plan with legislation designed to help Americans in all facets of life. Many of you have received stimulus checks as a result, and the legislation also takes measures to speed up the vaccination process for many Americans. A large portion of the bill allocates funding specifically targeting veterans. We’ll take a look at a few of the highlights below.

  • $14.5 billion for COVID-19 related health care specifically targeted at VA hospitals
  • $1 billion for debt forgiveness related to copayments or other cost sharing that veterans paid for VA health care
  • A $386 million COVID-19 Veteran Rapid Training Assistance Program to enable unemployed veterans to get the training that they need
  • Funding to reduce the backlog of compensation and pension claims
  • $1,400 in stimulus money for many service members and vets (depending on income), their children, and their spouses

What does this legislation mean for you as a veteran or member of the military? Many of you have likely already received economic impact payments and will enjoy the shorter wait, better systems, and possible debt relief from the VA. The program also provides rental assistance, assistance to homeowners in distress, and relief for small businesses. The link here provides the details of many of these programs if they apply to you.

Curious as to what to do with your stimulus check? It might be worth listening to this podcast about last year’s stimulus.

In additional news, the SAVES LIVES Act allows the VA to provide COVID-19 vaccinations to all veterans, their spouses, and caregivers. I’ve had dozens of friends manage to get the vaccine with no issues. If this applies to you and you’re interested in the vaccine, check here.

In the coming months, you’ll likely see fewer posts as I am headed off on a deployment. I truly appreciate all of the readers out there. Be sure to share the site with friends and family!

Enjoy the content of this post? Subscribe below to get the latest content delivered to your inbox!

Categories Finance, Personal Finance, UncategorizedTags , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this:
search previous next tag category expand menu location phone mail time cart zoom edit close