As we begin to wrap up 2018, we start to look towards the New Year and what’s next. Every year the Social Security Administration or SSA reexamines the amounts paid to Social Security Disability recipients to determine if the numbers are accurate. Accuracy is based on cost of living, among other factors. In 2019, veterans receiving SSD benefits are going to see a raise in their disability benefits.
Historically, the raise is the largest that disabled veterans have seen since 2012. Veterans are determined a disability rating. The higher the percentage, the more deemed disabled are the SSD beneficiaries and the higher the amount awarded. Veterans with the highest ratings of 100 percent will see nearly a $100 jump in disability pay each month starting in 2019, the largest increase in disability benefits since 2012.
The raise is scheduled to come into effect beginning January 1st, 2019. This is only a few weeks away, and many disabled veterans and their families will be glad to hear that a raise in benefits is coming. Overall, the raise is a 2.8 percent cost-of-living adjustment or COLA, as decided by the Department of Veteran Affairs. If a veteran with disability benefit has dependents, it could increase further.
Families rely on Social Security Disability benefits so any increase is important to so many that the benefits affect. There are also raises scheduled for other beneficiaries of programs regulated by the SSA. The increase should be seen on the first paycheck for disability benefits after the first of the year. A disability rating will determine to what percentage the disabled veteran’s benefits will raise, and sometimes other factors will affect that number further.