SNAP increase in 2024, effective as of Oct.1, 2023
Application for Food Stamp
The Increase in SNAP Benefits (Food Stamps) for 2024 – COLAs are effective as of Oct.1, 2023
In a recently published article of GoBankingRates, about the increase in SNAP benefits at the beginning of each federal fiscal year that is effective on October 1, 2023. The increase in SNAP benefits are based on COLA (Cost of Living Adjustments), which is the total amount of money needed to support basic needs of living.
The increase in SNAP benefits release the maximum allotments for the forty-eight states and Washington D.C., Alaska, Guam and the U.S. Virgin Islands all increased. While other states increase in SNAP benefits, SNAP recipients in Hawaii decreases for 35%.
Here are the increase in SNAP benefits maximum allotments for a family of four, according to the USDA website:
- 48 states and D.C.: $973.
- Alaska: $1,248 to $1,937.
- Hawaii: $1,759.
- Guam: $1,434.
- U.S. Virgin Islands: $1,251.
Read Also:SNAP FY 2024 Cost-of-Living Adjustments
Aside from the increase in SNAP benefits, they have a Shelter cap values. It refers to the amount of money where SNAP recipients can deduct the rent payment, repair costs, utilities and exceeding half of their net income when calculating benefits. Now if one person in the household is elderly or disabled according to the increase in SNAP benefits, the shelter cap increased by $48, up to $672, in the forty-eight contiguous states and D.C. increase in SNAP benefits homeless shelter deduction also rose to $179.66. The maximum increase in SNAP benefits shelter deductions for 2024 are as follows:
- 48 states and D.C.: $672.
- Alaska: $1,073.
- Hawaii: $905.
- Guam: $789.
- U.S. Virgin Islands: $529
The increase in SNAP benefits resource limit for all states and territories remains unchanged at $2,750. The increase in SNAP benefits for households where at least one person is age 60 or older, or is disabled, the limit of the increase in SNAP benefits will also remain unchanged at $4,250.
The increase in SNAP benefits monthly payment of $973 for a family of four. It is likely an eight dollar per day per person. The increase in SNAP benefits was never intended to cover all food costs, but the Urban Institute found that a modestly priced meal cost $3.14 as of the last quarter of 2022. It is 5% higher than the maximum increase in SNAP benefits. The report also noted that increase in SNAP benefits did not cover the cost of a meal in 99% of counties last year.
Read Also: Food Stamps: What is the Highest Income Level for SNAP Payments in 2023?
