Beginning January 1st, Disabled Veterans will have a Cost of Living Adjustment of 3.2% increase on their monthly disability compensation. According to pundits, Veterans who have a disability rate of 10% or higher will be awarded a 3.2% increase in their pay for the whole year of 2024. The COLA increase aligns with the Social Security Administration's foresight.
As an example, a Veteran with a 100% rate with no dependents who received $3,621.95 in 2023, will now have a monthly increase of $115.90, which means he will receive $3,737.85.
Veterans will receive $1390.8 extra in the whole year
Keep in mind that the disability compensation, pension, and DIC benefits are not taxed by the federal taxable income.
When am I receiving the compensation?
- January - Wednesday, Feb. 1
- February - Wednesday, March 1
- March - Friday, March 31
- April - Monday, May 1
- May - Thursday, June 1
- June -Friday, June 30
- July - Tuesday, Aug. 1
- August - Friday, Sept. 1
- September - Friday, Sept. 29
- October - Wednesday, Nov. 1
- November - Friday, Dec. 1
- December - Friday, Dec. 29
Here is what Veterans were receiving during 2023 in relation to the percentage:
2023 Monthly VA Compensation
- 10% - $165.92
- 20% - $327.99
- 30% - $508.05
- 40% - $731.86
- 50% - $1,041.82
- 60% - $1,319.65
- 70% - $1,663.06
- 80% - $1,933.15
- 90% - $2,172.39
- 100% - $3,621.95
What happens If I have a 0% rating?
If a Veteran receives a 0% rating they could qualify for other benefits like the VA Health care, however, there are ways that a person can increase their VA disability rating.
According to legal pundits at the Berry Law firm, "If less than a year has elapsed since the VA granted a service connection for disability benefits, and the Veteran believes that the rating is too low, a Veteran can appeal the decision through one of several appeals options", This includes:
- Higher-level review request
- Supplemental claim
"payment" - Google News
December 25, 2023 at 02:21AM
https://ift.tt/FSqIlop
VA Disability Payment January: What day is your payment coming next month? - Marca English
"payment" - Google News
https://ift.tt/l0TscYb
https://ift.tt/mAGsvnw
Bagikan Berita Ini
0 Response to "VA Disability Payment January: What day is your payment coming next month? - Marca English"
Post a Comment