By Raul Rodriguez Cota
29 Jul 2024, 12:22 PM EDT
People who receive benefits from the Supplemental Nutrition Assistance Program (SNAP) will be the first to receive an increase in their payments due to the annual Cost-of-Living Adjustment (COLA) in the United States.
This increase, expected in October 2024, will financially help millions of families who depend on these benefits to buy food.
The United States Department of Agriculture (USDA) announced that new SNAP benefit amounts will begin to apply on October 1, 2024.
According to Senior Citizens League projections, the increase could be approximately 2.63%, which would result in increased benefits for families.
For example, a single person could receive up to $298 per month, while a family of four could receive up to $998 per month.
SNAP maximum amounts depend on household size.
Currently, an individual can receive up to $291, and a family of eight can receive up to $1,751.
With the COLA adjustment, these numbers could increase, providing essential support to beneficiaries.
SNAP benefit amounts are calculated based on household size and monthly net income, which is obtained after subtracting various deductions.
These deductions include standard expenses, a deduction for earned income, deductions for dependent care, and a deduction for medical expenses for elderly or disabled household members.
Keep reading:
– Puerto Rico’s transition to SNAP: 71% of Americans support the proposal
– SNAP Coupons: Payment Schedule, August 1-10
– New York: $1,407 checks for those who qualify