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The Cost of Living Allowance for Veterans May be Raised

According to a release from the House of Representatives Committee on Veterans' Affairs, veterans with service-related disabilities may see a spike in the cost of living allowance (COLA). The House of Representatives voted to pass the 2012 COLA adjustment on November 2, 2011.

COLA increases are important because in addition to affecting veterans who are currently living in service-related disabilities, it also impacts the "rates of dependency and indemnity compensation of veterans" that died either in service or as a result of a wound or disability related to their service. Since 1976, a COLA has been passed every year; however, an increase in the current COLA has not been seen since 2009.

The COLA is determined by looking at the Consumer Price Index, which in turn makes adjustments to benefits for those people receiving Social Security. The last 2 years have seen very low inflation, which has meant no COLA increases. Given the current economy, however, this increase can help those disabled veterans struggling in their day-to-day lives.

The Cola bill has been passed on to President Obama and, if he signs the bill, the new COLA raise can then become effective on December 1, 2011.

If you are a disabled veteran who has been denied disability compensation or have not yet applied for benefits from the VA, a South Florida disability attorney from LaVan & Neidenberg is ready to help. To learn if you are entitled to certain programs and benefits contact our veterans disability rights firm today - 1-888-234-5758.