The 2020 VA Disability Pay Rates are out! If you are a Veteran with a service-connected disability rating of 10% or higher, you can determine how much tax-free compensation you’ll get each month by viewing the animated chart above, or the graph below.
2020 VA Disability Compensation Pay Rates Chart
|Combined VA Disability Rating||2019 VA Disability Rates||2020 VA Disability Rates|
Veterans with a 30% rating or higher can receive payments for eligible dependents.
As of December 1st, 2019, the 2020 VA Disability Pay Rates are in effect. Therefore, if you receive VA disability pay, you will notice the increased amount in your check automatically. Since last year, there was an increase of 1.6%. This is slightly below the expected such cost-of-living adjustment (COLA). The government addresses rates for military retiree pay, as well as, several other government benefits by adjusting this measurement every year. The next COLA will be announced on October 2020.
How does this affect me?
Although 1.6% sounds like a low percentage increase, it may not seem so little over time! Now, Veterans with a rating of 100% can receive up to $3,684.01 per month, plus additional benefits based on dependents. This monetary benefit from the VA Disability Compensation is tax-free and does not affect your finances when filing taxes.
Veterans Guardian is here to help Veterans who may be underrated. Our goal is to ensure they are receiving the benefits they are eligible for. If you would like to learn more or if you would like to speak with a Veteran Claims Specialist, you can contact us by filling out the form below.