Past rates: 2024 va special monthly compensation rates | veterans affairs

Past rates: 2024 va special monthly compensation rates | veterans affairs


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NOTE: We’re required by law to match the percentage of cost-of-living adjustments made to Social Security benefits. These adjustments help to make sure that the purchasing power of your


benefits keeps up with inflation.  Get the latest cost-of-living adjustment (COLA) information on the Social Security Administration’s (SSA) website HOW TO USE THE TABLES TO FIND YOUR


MONTHLY PAYMENT FIND YOUR BASIC RATE Go to the SMC rate that applies to you. On the BASIC SMC rates table, find the amount for your disability rating and SMC letter designation. This is your


monthly basic rate. EXAMPLE (VETERAN WITH NO CHILDREN): If you were a Veteran with a dependent spouse (no dependent parents or children), and you had an SMC-M designation, your monthly


basic rate would be $5,341.32 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 an SMC-L designation, and you have 4 dependent children (1 child over age 18 in a qualifying school program and 3 children under age 18), and a dependent spouse, you


would start with a basic SMC rate of $5,012.08 for a Veteran with one child and spouse (no parents). Next, look at the ADDED AMOUNTS table. Find the amount for children under age 18


($103.55). Since your basic rate already provides payment for 1 child, you would add the rate of $103.55 for each additional child under age 18 (so $103.55 x 2). Then, look for the rate for


each additional child over 18 in a qualifying school program ($334.49). If your spouse receives Aid and Attendance, you would also add $191.14 (which is the added amount for a spouse


receiving Aid and Attendance, for a Veteran with a SMC-L designation). Add these amounts to your basic rate to get your total monthly payment amount. In our example of a Veteran with a SMC-L


designation, your total monthly payment amount would be: $5,012.08 (basic rate (1 spouse, 1 child) + 103.55 (second child under 18) + 103.55 (third child under 18) + 334.49 (1 child over


18, in a qualifying school program) + 191.14 (spouse who receives Aid and Attendance) TOTAL $5,744.81 ------------------------- HOW WE ASSIGN SMC LEVELS L THROUGH O WE ASSIGN SMC LEVELS


BASED ON VERY SPECIFIC SITUATIONS AND COMBINATIONS OF SITUATIONS, INCLUDING: * The amputation of one or more limbs or extremities * The loss of use of one or more limbs or extremities


(meaning you have no effective function remaining) * The physical loss of one or both eyes * The loss of sight or total blindness in one or both eyes * Being permanently bedridden (unable to


get out of bed) * Needing daily help with basic needs (like eating, dressing, and bathing), also called “Aid and Attendance” Select an SMC letter below to learn more about the specific


situations and combinations of situations that fall within that designation.