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SNAP COLA 2024: More money for you

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SNAP COLA 2024: More money for you

SNAP COLA 2024: More money for you. As part of the Cost of Living Adjustment (COLA), the USDA adjusts Supplemental Nutrition Assistance Program (SNAP) benefits every year. As a result of this mechanism, SNAP benefits are adjusted in accordance with rising living costs, ensuring that they provide essential nutritional aid to eligible individuals and families.

The COLA Calculation Process

During the COLA calculation, the Consumer Price Index (CPI) is used to track fluctuations in food prices, determining the increase in food stamp allotments.

Anticipated Surge in SNAP Benefits

USDA will release the COLA-augmented benefit figures for 2024 as the federal government’s fiscal year begins in October. 48 contiguous states and the District of Columbia are projected to see a 3.5% increase if inflation continues at its current rate. Individuals will see a monthly increase from $281 to $291 and households with four members will see a monthly increase of $934 to $973.

  • person: $291
  • people: $535
  • people: $766
  • people: $973
  • people: $1,155
  • people: $1,386
  • people: $1,532
  • people: $1,751
  • Each Extra Member: add $219 for each one

Special SNAP Increments in Specific Regions

For a family of four, SNAP benefits differ in Alaska, Hawaii, Guam, and U.S. Virgin Islands due to higher living costs.

  • Alaska: $1,248 (Urban), $1,591 (Rural I), $1,937 (Rural 2)
  • Hawaii: $1,759
  • Guam: $1,434
  • U.S. Virgin Islands: $1,251

For a complete list of values, refer to the USDA memorandum. Keep in mind that these are maximum figures, so actual amounts may vary.

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New Eligibility Requirements and Income Limits

A new income threshold for the SNAP program was introduced on October 1st, potentially allowing more individuals and families to qualify for assistance. Previously, a family of four would not qualify if their monthly income exceeded $3,007. With the new income limit, they can earn up to $3,250 per month while still qualifying for government assistance.

To check eligibility, refer to the table below, considering a monthly net income at or below 100% of the poverty threshold. In anticipation of the rising cost of living, SNAP benefits will be increased to keep pace with grocery prices.

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Household size 48 U.S. states and D.C. Alaska Hawaii
1 $1,215 $1,518 $1,398
2 $1,644 $2,054 $1,890
3 $2,072 $2,590 $2,383
4 $2,500 $3,125 $2,875
5 $2,929 $3,661 $3,368
6 $3,357 $4,197 $3,860
7 $3,785 $4,733 $4,353
8 $4,214 $5,269 $4,845
Each additional person $429 $536 $493

Conclusion

SNAP COLA 2024 brings positive changes, boosting benefits and widening eligibility. With increased allocations and adjusted income limits, families can now better navigate the rising cost of living, ensuring essential support for their nutritional needs.

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