Veterans to receive cost-of-living increase in 2016 benefits

by Sep 22, 2015

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Military veterans typically are eligible for and ultimately receive benefits if they suffer an injury or illness during their time in the service. However, the process of obtaining veterans’ benefits can be much more complicated and frustrating than people realize.

To begin with, many veterans and/or their families find it a challenge to navigate the application system on their own. It can be difficult to know what information needs to be gathered and presented to the government without previous experience doing so. Further, it can be something of a surprise to learn that individual sources of benefits may not be as substantial as you may have anticipated.

For instance, many Tennessee veterans depend on the assistance they can through disability benefits. This money, which crucial, is typically much less than people expect or feel they deserve.

While disability benefits won’t exactly make a person rich, they can be essential in helping veterans get the help and basic care they may desperately need thanks to a disabling condition. Additionally, veterans can expect to see these benefits increase next year, though it is impossible to say at this point what that increase will look like.

According to recent reports, federal officials have announced that they will be increasing disability benefits for veterans to allow for cost-of-living adjustments beginning in 2016. The actual amount of the increase will not be specified until later this year, but it is intended to reflect and keep pace with inflation so that veterans receiving this money will not end up with less valuable benefit amounts.

Cost-of-living adjustments are not unusual; in fact, the government must vote on the legislation to increase them every year. Unfortunately, for the past few years the increases have been increase by less than 2 percent.

If you currently receive benefits or plan to receive them in the near future, you probably already understand that every little bit helps in terms of financial support after military service. In order to pursue the maximum amount of benefits available and avoid making any mistakes that could prove to be costly, it can be wise to discuss your situation and your legal options to pursue benefits including disability with an attorney.

Source: Military Times, “Cost-of-living hike on track for disabled vets,” Leo Shane III, Aug. 10, 2015