The cost-of-living adjustment (COLA) has always been a very controversial topic for people who get Social Security. Now, soldiers who get VA benefits will also have to deal with it.
It was just revealed that VA benefits will rise every year, just like Social Security checks. This will give veterans extra money to keep up with inflation and meet their basic needs.
Congress finalized plans on Wednesday to make sure that next year, veterans’ benefits will get the same cost-of-living raise as Social Security recipients.
More than 7 million veterans and military retirees will get the new COLA increase
A week after similar legislation was passed without any opposition in the House of Representatives, it was approved by a voice vote in the Senate. The Biden government is likely to sign the bill into law in the next few days.
Every month, the Department of Veterans Affairs sends checks to about 5 million veterans and 2 million service retirees.
The COLA increase bill would change how much people get paid for a number of other VA programs that help veterans, such as clothing allowances, dependency and indemnity benefits, and injury compensation.
Even though the plan is not controversial, Congress needs to pass a law that links payments to veterans to yearly increases in Social Security.
Without it, recipients would not get any more money, even though other government aid programs would get more. Also, after the bill passed the House, its author, Rep.
Morgan Lutrell (R-Texas), said in a statement that the plan was an important step toward making sure disabled veterans’ financial health.
This is what Morgan Lutrell says we should do: make sure our veterans get the help and perks they deserve because they gave their all to protect our freedoms.
Last year, Social Security went up 3.2%, but in 2023, it went up 8.7%, which was the most in forty years. The rate for 2025 will be made public by the federal government on October 10.
In August, the Senior Citizens League said that the number would probably be 2.4% based on an analysis of the state of the economy. If that number is correct, it would be the lowest rate of cost-of-living growth since 2020, when it was 1.3%.
Other changes are coming for VA benefits in the United States
One reason a service member might do something wrong is because of a mental health problem they got while in the military, like PTSD, trauma, or military sexual trauma.
They might not come back from service alive, which could lead to an OTH release or something even worse. A better character for release could only be lost by showing that the mistake was caused by mental health issues that came up because of being in the military.
The Department of Veteran Affairs (DVA) will charge a fee to correct military records because most members, veterans, and their families did not know this until lately.
But now, all members can ask for a faster change by asking the VA to look at their discharge, while other marks can only be used for VA benefits. Because of this, you will be able to get better rewards.
Not only will this speed up and improve the overall process, but it will also give hope to a lot more senior veterans who will now be able to get extra monthly payments that could really improve their quality of life.
How much can veterans earn in VA benefits this year?
n 2024, the following amounts will be paid to single veterans who do not have dependents:
- $171.23 per month for 10% disability
- $338.49 per month for 20% disability
- $524.31 per month for 30% disability
- $755.28 per month for 40% disability
- $1,075.16 per month for 50% disability
- $1,361.88 per month for 60% disability
- $1,716.28 per month for 70% disability
- $1,995.01 per month for 80% disability
- $2,241.91 per month for 90% disability
- $3,737.85 per month for 100% disability
Do not forget that veterans who have a 0% disability rating do not get monthly disability payments.
They might be able to get VA health care benefits, though. Also, veterans who can show a more severe level of impairment will get better ratings from the DVA. The VA Benefits Payment Schedule lists the following dates as the ones when benefits will be paid this year:
| VA benefits schedule | Following month’s payment date |
| October | Friday, November 1 |
| November | Friday, November 29 |
| December | Tuesday, December 31 |