The Bureau of Labor Statistics calculates CPI-W on a monthly basis, and the SSA compares the data from the third quarter of the previous fiscal year to the third quarter of the current fiscal year in order to accurately reflect the change in the cost of living in their compensation rates. Do You Have Disability Insurance Coverage? Brian is a former active duty Air Force officer with extensive experience leading hundreds of individuals and multi-functional teams in challenging international environments, including a combat tour to southern Afghanistan in 2011 in support of Operation ENDURING FREEDOM. VA Disability Rates for 2021 and Cost of Living Adjustment (COLA). V. System Changes On January 1, 2021, the Social Security and SSI cost-of-living income adjustments (COLA) were made to CARES and Assistance Units (AUs) inactive or spend-down status. Signup to never miss a beat with special offers, blog updates, exclusive trainings, and more delivered right to your inbox! Did you know one of the best ways to get a VA disability service connected is to get a doctor to write an evidence-based VA Nexus Letter? The most common uses for the term COLA, as it relates to military and veterans benefits, include COLA adjustments for retirement pay… Click HERE to read about Special Monthly Compensation from A to Z. Did you take ZANTAC regularly and later develop cancer? By continuing to browse the site you are consenting to their use. To apply for SMC if you are housebound or required the aid and attendance of someone to perform daily living functions complete VA Form 21-2680 and mail it to your nearest VA Regional Office in your state. Dependency and Indemnity Compensation (aka, DIC) is a tax-free monetary benefit generally payable to a surviving spouse, child, or parent of service members who died while on active duty, active duty for training, or inactive duty training or survivors of Veterans who died from their service-connected disabilities. Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 1.3 percent in 2021. Burn Pits: The Agent Orange for Post-9/11 Veterans, “Other related factors” must be considered in extraschedular analysis. He is also the CEO of Military Disability Made Easy, which is the world’s largest free searchable database for all things related to DoD disability and VA disability, and has served more than 6,000,000 military members and veterans since its founding in 2013. If there is no change or a decrease in the cost of goods and services, there is no increase in the COLA. Yes, I think so, although next year’s VA disability pay increase is likely to be small due to low inflation and the impact of the COVID-19 pandemic on the economy. The VA will automatically award Special Monthly Compensation if your disability qualifies. As a fellow disabled Veteran this is shameful and I’m on a mission to change it. Click “Go Elite Now” below to get started today and a member of our team will be in touch within minutes. Brian is a Distinguished Graduate of Management from the United States Air Force Academy, Colorado Springs, CO and he holds an MBA from Oklahoma State University’s Spears School of Business, Stillwater, OK, where he was a National Honor Scholar (Top 1% of Graduate School class). <<. A 1.3 percent federal cost-of-living adjustment (COLA) to Social Security Retirement and Disability (RSDI), Supplemental Security Income (SSI) and veterans benefits for 2021 … To keep up with the cost of living, Social Security reviews benefits each year and decides if there needs to be a Cost-of-Living Adjustment (COLA). 2021 Cost-of-Living Adjustment (COLA) The COLA rate for 2021 was announced on October 13, 2020; however, the increase will not go into effect until December 1, 2020. 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