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Adds a new section 1980B to chapter 19 (Subchapter III) requiring periodic reviews of the automatic maximum coverage amount and defining the amount and the Consumer Price Index.
Amends the table of sections at the beginning of chapter 19 by inserting a new item for section 1980B after the item relating to section 1980A.
Requires the Secretary to begin a review on January 1, 2026, and every five years thereafter, comparing the current automatic maximum life insurance coverage amount under the specified life insurance provisions to a formula-based amount. The Secretary must report the review results to the House and Senate Committees on Veterans’ Affairs; the report may be used to inform future coverage increases.
The formula amount is defined as $500,000 multiplied by the average five-year change in the Consumer Price Index for All Urban Consumers (CPI-U). The provision creates a recurring administrative review and reporting requirement but does not itself change benefit payments or immediately raise coverage limits.
Read twice and referred to the Committee on Veterans' Affairs.
Introduced February 4, 2025 by John Cornyn · Last progress February 4, 2025
Read twice and referred to the Committee on Veterans' Affairs.
Introduced in Senate