ODVA release – The U.S. Department of Veterans Affairs announced earlier this week that Veterans disability compensation rates for 2024 will increase. Veterans can review 2024 Veterans disability compensation rates by visiting www.va.gov/disability/compensation-rates/veteran-rates/. From there, use the compensation benefits rate tables to find your monthly payment amount. The VA bases your monthly payment amount on your disability rating and details about your dependent family members. How to use the tables to find your monthly payment. Find your basic rate. Go to the compensation rates for your disability rating. On the Basic monthly rates table, find the amount for your disability rating and dependent status. This is your basic monthly rate. Example (Veteran with no children): If you’re a Veteran with a 30% disability rating, and you have a dependent spouse (no dependent parents or children), your basic monthly rate would be $586.31 each month. Find your added amounts, if any apply – If your spouse receives Aid and Attendance benefits or you have more than one child, you may qualify for additional monthly payment amounts as listed in the Added amounts table. Learn more about Aid and Attendance benefits – First, determine your basic rate. Example (Veteran with children): If you’re a Veteran with a 70% disability rating, and you have a spouse, plus 3 dependent children under the age of 18, you would start with the basic rate of $1,968.28 (for a Veteran with a spouse and 1 child). Next, look at the Added amounts table. Find the amount for children under age 18 ($72.00). Since your basic rate already provides payment for 1 child, you would add the rate of $72.00 for each additional child (so $72 x 2). If your spouse receives Aid and Attendance, you would also add $134 (which is the added amount for a spouse receiving Aid and Attendance, for a Veteran with a 70% disability rating). In our example of a Veteran with 70% disability rating, your total monthly payment amount would be: $1,968.28 basic rate (1 spouse, 1 child); +$72 (second child under 18); +$72 (third child under 18); +$134 (spouse who receives Aid and Attendance); Total $2,246.28. Once again, Veterans can review 2024 Veterans disability compensation rates by visiting www.va.gov/disability/compensation-rates/veteran-rates/.
