Five House Democrats unveiled a bill April 1 that would allow veterans to divert a portion of their retirement benefits to set up a fund for their special needs children.
“As a father of a special needs child, I know how important it is for parents to be able to provide them the best possible care,” Moran said in an article in the Hill. “When healthcare costs for disabled kids can top $100,000 a year, the military needs to give parents the opportunity to plan for their special needs children’s future.”
Federal regulations currently allow anyone to create a special needs trust, but this option is currently not allowed if the money is coming from military retirement funds.
For children with disabilities of deceased veterans, the bill, known as the Disabled Military Child Protection act, would allow these children to continue to receives federal benefits even if they are also receive funds through their special needs trusts.
Along with Moran, the bill’s other sponsors are Rep. Charlie Rangel (D-N.Y.), a veteran of the Korean War. Other cosponsors are Reps. Lois Capps (D-Calif.), Jared Polis (D-Colo.), Steve Rothman (D-N.J.).