How Veteran's Disability Benefits Will Be Affected by the Social Security COLA
by Don Drake, Connelly Law Offices, Ltd.
"A few weeks ago, we did a blog on the upcoming changes in Social Security benefits for those in the SSA system for this new year," said certified elder law Attorney RJ Connelly III. "Today, we are going to look at how our veterans on disability will be affected, but before we do that, let's take a quick look at how the Cost-of-Living Allowance (COLA) will affect Military retirees and disabled veterans. Like Social Security recipients, they will see their monthly checks increase by 8.7% for 2023, thanks to the annual adjustment to the federal COLA as a result of inflation."
This increase will be the largest since 1981. Last year, military retirees saw a 5.9% increase, and in 2021, a 1.3a % adjustment. In the previous ten years, the annual adjustment has averaged just 1.9%.