Starting January 1, Disabled Veterans will see a 3.2% Cost of Living Adjustment, or COLA, increase in their monthly VA disability compensation.
Veterans with a current disability rating of 10% or higher will receive this 3.2% raise in their disability pay rate for the entire calendar year of 2024. The COLA increase is in line with the Social Security Administration’s announcement of a 3.2% COLA for 2024.
For example, a Veteran rated 100% with no dependents, receiving $3,621.95 in 2023, will see a monthly increase of $115.90, bringing the 2024 total to $3,737.85. Importantly, disability compensation, pension, and DIC benefits remain exempt from federal taxable income.
Over 5.4 million Veterans and nearly half a million surviving spouses and dependents will financially benefit from the 3.2% Cost of Living Adjustment in VA disability compensation for the year 2024.
Veterans are encouraged to refer to updated information on the VA website, utilizing charts to assess eligibility and anticipate new monthly payments based on the COLA adjustment. The Department of Veterans Affairs has updated information on its website here.
The 3.2% COLA year-over-year increase, confirmed on December 1, follows the Social Security Administration’s announcement on October 12. The COLA is intrinsically tied to the Consumer Price Index for Urban Wage Earnings and Clerical Workers. The COLA increase for 2023 was unusually high at 8.7%, marking the most substantial increase since 1981. For 2024, 3.2% is based on the CPI-W’s percentage increase. The Bureau of Labor Statistics calculates the CPI-W, and after Senate approval, the VA adjusts Veterans’ benefits, leading to an annual increase.
Veterans with a combined disability rating of 30% or higher and qualifying dependents are eligible for additional compensation. Qualifying dependents include: a spouse, a child under 18 or between 18 and 23 still in school, dependent parents, an additional child under 18, and an additional child between 18 and 23 who is in school.
Moreover, Veterans can enhance their VA rating by submitting a new VA disability claim for a separate condition or by pursuing a claim for an increased rating.
Author: Rikki Almanza
Rikki is a Web Content Coordinator for the American Legion, Department of California. With a deep-rooted connection to the military, a spouse who is a Navy veteran, a father who served in the Air Force for 25 years, and a grandfather who proudly served, Rikki is committed to using her skills and knowledge to provide valuable assistance and resources to servicemembers and veterans.
ARE ALL VA BENEFITS BEING ADJUSTED BY THE SOCIAL SECURITY COLA INDEX OF 3.2%.
I UNDERSTAND IT INCLUDES DISABILITY COMPENSATION, BUT DOES IT ALSO APPLY TO AUTOMOBILE COMPENSATION. THE CURRENT RATE FOR AUTO COMPENSATION IS $ 25603.00. WILL THAT AMOUNT INCREASE TO $ 26422.00 ?
What is an automobile compensation?
I am currently at 90 percent disability rating. Over the years my disability got worse. I applied for and saw medical professionals through the VA and it’s 6 months later and I’m still waiting. I’ve received 2 letters stating that my application has been received but yet no answer. It only took 3 months when I was discharged in 2016. Stress has me in it’s grasp.
Also,my claim “s are being delayed..
welcome to the club, I have the same amount and still waiting but was also denied stating my injury has not got worse without a evaluation. I’m at 90% and scared to keep requesting a disability increase, the VA will try and reduce us quick before they help.. what can we do
hang in there keep reapplying eventualy it will go thru
I have been “Service Connected” along with 100% disabled rated for the past 30 years.
What is the definition of Service Connected?
I feel like a deceased veterans spouse and ur children shall be able to file compensation increases for veterans that had claims denied prior to death. My husband is a deceased veteran, he put in cousins before his death that was denied. Now those same very claims are being compensated to living veterans, not fair and it’s unjust. A veteran should be entitled to so compensations if claims especially if they file and have proof. It’s hurtful my husband suffered with his disabilities but struggled to continue to work due to cousins being denied and to see those claims actually become compensated and he has no entitlement. It’s completely wrong.
what?
Ms. Fowler, I think you post is being misunderstood, because I think auto fill is putting in cousins, where I think you are saying claims, If that is the case, if he did file a claim, and the disabilities have been added due to the PACT Act or added since further review, you should be able to go back in for his claims. Find the nearest Veterans Affairs Office or VFW in your area and ask for a Veteran Service Officer(VSO), they should be able to help.