The Department of Veterans Affairs (VA) has released the estimated disability pay rates for 2024, which are set to take effect on December 1, 2023. These rates are expected to have a year over year increase of 2.8-3.1% based on the latest cost-of-living adjustment (COLA) estimates. However, the official rate will only be announced on October 13, 2023, and finalized on December 1, 2023.
The estimated pay rates are categorized based on the percentage of disability and dependent status. For veterans with a disability rating between 10% and 20% and no dependents, the estimated monthly payout ranges from $170.90 to $337.83.
For veterans with a disability rating between 30% and 60% without children, the estimated monthly payouts vary depending on the dependent status. For example, a veteran alone with a 30% disability rating can expect to receive $523.29 per month, while a veteran with a spouse and two parents with a 60% disability rating can expect to receive $1,342.93 per month.
For veterans with a disability rating between 70% and 100% without children, the estimated monthly payouts increase significantly. A veteran alone with a 100% disability rating can expect to receive $3,730.61 per month, while a veteran with a spouse and two parents with a 90% disability rating can expect to receive $2,722.69 per month.
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