The COLA Increase was made official to a 3.2 % for 2024 on Thursday, October 12, 2023, bringing an end to the anxious wait of millions upon millions of citizens and residents in the United States of America. But what does the new COLA increase mean for you?
Below, we’ve looked to answer all of the questions you might have about the new COLA Increase 2024 updates, following the official announcement.
Millions of US citizens and residents had been waiting a long time to learn how much the Social Security would go up after COLA 2024. It is official that the Social Security COLA Increase for 2024 will be 3.2%
The VA Disability Rates for 2024 will be set at the same rate as COLA, which is 3.2%.
Therefore, disabled veterans can anticipate more money in their pockets to combat the rising prices and economic uncertainty caused by the response to the COVID-19 pandemic and the war in Ukraine.
However, eligibility can increase by up to 100%. The Veterans Affairs makes a determination about the severity of your disability based on the evidence you submit as part of your claim, or that VA obtains from your military records. VA rates come in 10% increments (e.g. 10%, 20%, 30% etc.).
How much SNAP Benefits are increasing with COLA 2024?
SNAP stands for Supplemental Nutrition Assistance Program and aims to help claimants with their grocery shopping. The program comes with a serious of conditions, for example, the stamps cannot be spent on alcohol.
For 2024 the SNAP benefits will increase,…
