Key Things to Know About New Benefits for Veterans
Updated on March 11, 2024 / 4 min read
The army, air force, and navy are rock-hard pillars of the nation, protecting it against external threats and keeping citizens safe. Those who serve in these military institutions are often rewarded for their efforts. For instance, the government gives veterans and their families financial support to help them pursue their educational goals and tackle health emergencies. While such benefits were rolled out several decades ago, they are updated from time to time.
New benefits for veterans
In 2022, the Department of Veteran Affairs (VA) launched the Equity Action Plan to ensure equal distribution of benefits among all eligible veterans. This plan added new benefits and revised several others.
Increase in monthly compensation
Since prices of daily essentials increase over time, veterans and military personnel with disabilities receive a cost-of-living adjustment (COLA). Recently, the VA increased the COLA by 3.2%. This means a veteran with a disability rating of 10% VA can expect a $6 increase in their monthly compensation. Similarly, those with a 100% VA disability rating can expect an additional compensation of $116 every month.
Increased care for women veterans
With the introduction of the Equity Action Plan, the VA now offers breast cancer screenings and mammograms for women veterans exposed to potentially toxic elements. Access to other reproductive health services has also increased, with over 340 women being helped to avail of such care services.
Inclusion of all veterans in its mission statement
Around a year ago, the VA updated its mission statement to include all army veterans who had served in the military, as well as their families, survivors, and caregivers. Such inclusion ensures that all army personnel and their beneficiaries can reap new veteran benefits.
Enhanced service to veterans with “Other Than Honorable” discharges
Over the past decade, 74% of veterans discharged for reasons “Other Than Honorable” received benefits and/or healthcare. Also, the number of applicants in this category increased from 1,700 in 2012 to over 10,000 in 2023.
Elimination of disparities through the PACT Act
In September 2023, VA released its first quarterly demographic supplement to the PACT Act dashboard. The data showed that the PACT Act was helping increase outreach to all veterans, including those typically underserved.
Introduction of VB Equity Assurance Office and Equity Assurance Plan
In June, the VA announced the development of its new Equity Assurance Office within the Veterans Benefits Administration (VBA), which can help eliminate disparities in providing deserved benefits to veterans. The plan requires all VBA employees to undertake unconscious and implicit bias training and increase recruitment from minority-serving institutions.
Other existing VA benefits to know about
Travel coverage for health appointments
If a veteran must travel to a different location for health appointments or treatments, the VA reimburses such travel expenses for veterans and their beneficiaries. Travel coverage includes mileage reimbursement, common carrier costs, ambulance and other transportation, commutes to healthcare facilities, etc.
Vision care
A veteran with vision problems may qualify for vision care benefits. These benefits include coverage for routine eye check-ups, preventative eye care, and the cost of eyeglasses. VA benefits also cover the cost of treatments related to blindness and low vision.
Hearing care
The financial benefits veterans receive for hearing problems depend on their disability rating. If a veteran has a 100% disability rating—as opposed to temporary or IU hearing loss—they qualify for totally free VA hearing aid services.
Educational benefits
Veterans are also entitled to educational benefits in case of a disability, such as student loan forgiveness for veteran students. The student loan forgiveness applies to those with a total and permanent disability and a 100% P&T VA rating. Alternatively, one should have a 100% Total Disability Individual Unemployability (TDIU) status.
Property tax exemption
Based on the level of service-connected disability and condition of service, army veterans may be eligible for exemptions from property taxes. Such benefits are not only applicable to veterans but also their bereaved spouses.
Survivors’ pension
In the event of the death of an army veteran with a disability, their surviving family members receive a survivors’ pension, also called a death pension.
Employment and training program
Under the Veteran Readiness and Employment (VR&E) provision, veterans with service-connected disabilities receive help to remain employed and ensure independent daily living.
Home loan and financial counseling
Veterans with disability ratings of 10% or higher are eligible for a waiver on the home loan funding fee. But this VA funding fee applies only to the VA loan amount and not to the home’s total purchase price.
Burial and plot allowance
A surviving dependent of a veteran is eligible for a burial and plot allowance, which essentially covers burial and funeral expenses.
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