Metro Detroit and West Michigan seniors that receive VA benefits for long term care through VA Aid and Attendance Benefit, have always looked forward to the annual federal budget announcement of the Cost of Living Adjustment (COLA). This year the announcement is not favorable. The latest from the Social Security Administration is that there will not be a COLA adjustment for 2016.
As a result veterans receiving this benefit can be all but certain to receive the same monthly amounts that they have in 2015. For now this is the only change to the VA non-service connected benefits that will be in effect for 2016. The proposed “looks-back” and transfer regulations are not a definite yet…
For more information about the COLA and your benefits follow the link below. If you do not receive VA benefits to assist you or your loved ones with long term care, please call our office at 1-866-529-ELDR. We can assist wartime veterans with long term care planning throughout the State of Michigan.