Department of Veterans Affairs distributes payments to veterans as disability benefits. For the current year, veterans with a disability rating of at least 10% are eligible for a 3.2% increase in VA compensation rates in 2024. If you become ill or injured during your military service or as a result of your duty, you may be eligible for monthly VA disability benefits. The tax-free compensation is subject to annual adjustments for inflation, rising consumer goods prices, and rising gas prices. The range is between $171 and $4,400.

In calculating the rate, the VA takes into account additional considerations, such as dependents. Veterans advocacy groups are urging Congress to renew the “individual unemployment” program, which provides tax-free monthly benefits to veterans who are unable to work but do not receive a 100 percent disability rating from the Department of Veterans Affairs (VA).

VA compensation rates increase

Disability compensation rates will increase by 3.2% in 2024, according to a recent announcement from the Department of Veterans Affairs (VA). It is essential for veterans who rely on these ongoing payments to stay on top of their annual changes to know their disability benefits. Overall, the 2024 VA disability increase is truly the largest adjustment since 2012, when it was the same percentage as the previous two years, while it initially appeared to be a small increase.

For example, growth was only 1.6% in 2020, compared to 0.7% in 2017. Since the annual cost-of-living adjustment is directly tied to Social Security rates, Congressional approval is not required. So veterans should expect an annual increase in their rates. It’s important to remember that the 2024 VA disability increase is a further attempt to combat inflation. The inflation rate increased by 3.4% between September 2022 and September 2023, as you no doubt already know.

COLA and the consequences for VA compensation

Veterans’ disability benefit rates are adjusted annually to reflect the Cost-of-Living Adjustment (COLA), which aligns them with inflation. This adjustment ensures that even as the cost of living fluctuates, the purchasing power of veterans’ benefits remains the same. The amount of compensation veterans receive is directly affected by the COLA, which is typically determined by the percentage increase in the Consumer Price Index (CPI). This helps maintain the true value of their benefits over time.

VA Compensation Rates Rising: Know if VA Disability Benefits May Increase Soon, Everything You Need to Know

Could VA Disability Benefits Be Rising Soon? Here’s What You Need to Know

Based on current inflation rates, the VA has adjusted its disability compensation rates by 3.2% for 2024 (COLA). Disability benefits will now increase in line with rising costs, with increases occurring gradually across the rating percentages. For example, a veteran with a 50% rating will see a monthly income increase from $1,403 in 2023 to $1,449 in 2049. If veterans have documented dependents, they may also qualify for additional payments under certain circumstances. Support for dependent parents, spouses, and children living at home is taken into account by the VA. Based on the inflation rate, these aid levels will also increase by 3.2% for 2024.

How to Accurately Determine Your Salary Scale in 2024

  • To find your rate, multiply your current disability amount by 3.4%. An individual with a 20% disability rating had a salary of $328 in 2023, meaning their salary in 2024 will be $339. In 2023, a veteran with a 50% combined VA rating received $1,041; in 2024, their salary will increase to $1,076. Finally, an individual with a 100% disability rating received $3,622 in 2023, and by 2024, their salary had increased to $3,745.
  • People with dependents who score between 30% and 100% are eligible for an additional $100 per month for each child under the age of 18. It is worth noting that in cases where a spouse is compensated for help and attendance, they will also earn a significant increase, ranging from $119 to $170 per month.

Can you increase your benefit amount every month?

  • You have several options for increasing your monthly rates if the 2024 VA disability increase isn’t enough to meet your needs. Filing a claim for higher benefits based on the justification that your condition has worsened since your initial assessment is one such strategy. Likewise, you have the option to file a claim if new circumstances arise. It’s common to experience additional health issues as you age, in addition to a service-related disability. For example, you have a legal claim for higher disability benefits if you have arthritis in addition to your other ailment.
  • But remember that the additional medical condition must also be related to your service or a pre-existing condition related to your duty. Veterans who believe their original rating was incorrect can also file a retroactive appeal of that rating. You can appeal your claim through the VA’s old system if you received disability benefits before February 2019. Veterans have more options for appeal under the AMA system if they filed after that date. They can request a higher-level review, where the VA evaluates the claim using information already in the file. Supplemental claims can be filed through the AMA system to review both new and current information. If you believe your rating is significantly lower than it should be, you can file an appeal with the Board of Veterans’ Appeals, and a judge will review your case