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Cost-of-living increase coming for veterans’ benefits

| Oct 10, 2019 | Veterans' Issues |

For many military veterans in Alabama, the benefits they receive are crucial to their finances. Particularly those who receive disability benefits, as they may have a limited ability to work and earn an income. Fortunately, each year Congress usually passes legislation to increase veterans’ benefits with a cost-of-living adjustment. This year, according to reports, is no different.

The reports indicate that toward the end of September of this year, the president signed the appropriate legislation to implement the cost-of-living adjustment – commonly known as “COLA” – so that the adjustment will go into effect as usual. The adjustment for veterans’ benefits will be the same as the one that will go into effect for Social Security benefits.

However, while it is good news that the COLA will go into effect as usual, it seems that the adjustment will not be as much as it has been in previous years. The reports indicate that the COLA will likely be less that a 2.8% increase. But, the adjustments should be seen in veterans’ benefits starting in December of this year.

Military veterans in Alabama and throughout the country will be happy to hear that the COLA isn’t going to be a subject of contentious partisan fighting in Washington, D.C., but that doesn’t mean that many veterans don’t have problems securing these benefits to begin with. Any military veterans who believe they are entitled to benefits may need to get more information about their legal options. These days, there are millions of veterans in America who may be entitled to veterans’ benefits.

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