According to the 2018 census, there are 18 million veterans in the United States. Recently, there have been changes in military members and many veterans benefits. These changes will benefit millions of military members and veterans across the country.
You need to know these changes to get the most out of these benefits. What’s new for military and veterans benefits for 2022? Check out this article and learn more about the recent military benefits news.
New Benefits for Military Members
The most significant change for most service members was the pay increase in January. But according to the White House, the pay could rise even more in 2023. It is due to the $813 billion spending proposal, which includes a 4.6% pay rise for the military.
There are raises in basic pay when troops meet promotion markers. Every year, Congress decides how much of a raise all the troops should get.
A junior troop makes about $25,000 a year, while senior troops make around $70,000. This pay excludes allowances, special pay, and other benefits.
If this raise gets approved, this might be a massive boost for military pay in the last 20 years. But, as of today, discussions are still ongoing on Capitol Hill.
Updated Veterans Benefits
The recent veterans benefits allow members to have benefits even if they did not serve up to 20 years. This is possible through the Blended Retirement System or BRS.
Before, under BRS, you would get monthly retirement pay if you served for 20 years or more. They would pay 20% less than what’s in the legacy system, in which only those with service before 2018 could enroll.
Now, many plans for veterans are available, such as the Thrift Savings plan. Continuation pay and lump sum retirement pay are also available for military veterans.
With the proposed budget, more families will experience different VA programs. The Veterans Affairs plans to add a thousand families this fall as mandated by Congress.
Included in the proposed spending budget are mental health programs and prosthetics care. Also included in this plan are caregiver supporter stipends and outpatient care services.
Other Military Members and Veterans Benefits
Last January, military service members got a 5.1% increase in Basic Allowance for Housing. It’s a massive BAH rate increase since 2016.
Any active duty service member stationed in American states is eligible for BAH. BAH gives cash supplements to members that don’t have government-provided housing. The amount depends on the rank, location, and if they have dependents.
Know More About the Veterans Benefits in 2022
Veterans Affairs will have a $128 billion advance allotment for VA programs for 2024. The next fiscal year starts on October 1, but officials will unveil other budget plans very soon.
If this plan gets approved, there will be a significant increase in veterans benefits. Military members will also have higher compensation, which can attract and keep more troops in the service.