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Originally Posted by firecatf7333 A few more questions
1. According to the chart link below your name jason, i'd be 10% disabled and severance pay would be 2x 3yrs servicex1500 base pay= $9,000. Now what is the monthly pay for 10% which is $117. Is that something else i would have to apply for, and is that 117 per month for the rest of your life? DO you get to choose from the severance pay or the monthly pay? |
I just went through TAPS at our Navy base, learned a lot about the disability benefits. The way it was explained to us was you will get your severance pay. However, the VA will not pay you disability UNTIL the entire amount of the severance has been reimbursed. Easy math using constant numbers: 9,000 severance divided by 117 equals approx. 77 months until you see the 117 in the mailbox.
Of course, the kicker is you pay 28 percent tax on that lump sum severance you get. So out of 9,000, you will only see 6,480 after taxes. The VA still counts the 9,000 balance towards the 117 payment. You end up losing 2,520 in taxes withheld on the severance payment.
In the end, if you get the option and don't need the money up front, the VA disability check is the better option. Unfortunately, the VA rep who spoke to us didn't specify if we could opt out of the severance payment or not.
Jason, do you know if separating members can opt out of the medical severance check and receive VA disability right off the bat?