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Episode 208: 2024 VA Special Monthly Compensation – SMC Rates

As a result of the 3.2 cost-of-living adjustment, VA’s Special Monthly Compensation rates will be increased from the 2023 amount. The Department of Veterans Affairs (VA) awards special monthly compensation (SMC) to veterans with service-connected conditions so debilitating they warrant a rating higher than 100 percent. The idea is that certain disabilities or combinations of disabilities are more severe than accounted for by the rating schedule. In this episode, we will break down the SMC rates for fiscal year 2024 and other key information veterans need to know about their special monthly compensation for 2024.