Do I get Cost of Living Adjustments in my Workers’ Comp Claim?
A worker receiving monetary benefits through workers’ compensation may be entitled to a Cost of Living Adjustment (COLA) each year. The Workers’ Compensation Commission assesses the cost of living and sends a letter to eligible individuals. In 2024, individuals who are receiving wage loss benefits under a Virginia Workers’ Compensation claim may be eligible for an increase of up to 3.5 percent.
I received a COLA letter – now what?
Individuals must either bring the form to their local social security office to get the information in person or go online to the Social Security Administration’s website to gather the information the form asks for. For individuals not receiving Social Security Disability Income benefits, a printout of the page stating as such is still necessary.
Once the form is completed it must be filed with the Workers’ Compensation Commission. Anyone completing the COLA application can do this by mail. ReidGoodwin clients can send us their completed form and we will file it for them.
Am I eligible for COLA if I am receiving Social Security Disability Income?
A worker may be entitled to COLA if they are on Social Security Disability Income, but their combined weekly rate and weekly Social Security Disability Income rate cannot exceed 80% of their pre-injury average weekly wage. This is not a calculation the worker has to make – the Workers’ Compensation Commission will determine that once the application is submitted.
If you received a COLA form and need assistance with your workers’ compensation claim, Call the law office of ReidGoodwin at 804-715-7800.