Starting October 1, 2024, SNAP benefits will increase due to the Cost of Living Adjustment, with new amounts expected to be announced soon based on household size and income deductions.
Upcoming SNAP Benefit Changes – Projected Increases for Households Starting October 1, 2024
According to the report of Vibus, the USDA has announced that SNAP benefits will change starting October 1, 2024, due to the annual Cost of Living Adjustment (COLA). This means the amount of money people receive could go up based on how many people are in their household. For example, a single person might get up to $298, and a family of four could get up to $998 if the Cost of Living Adjustment increase is applied.
Right now, SNAP benefits vary greatly depending on how many people are in the household. A single person can get up to $291, while a family of eight can get up to $1,751. With the projected Cost of Living Adjustment increase of around 2.63%, these amounts might be adjusted. The USDA is expected to announce the new benefit amounts within the next two weeks.
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$298 to $998: SNAP Payment Amounts Set to Increase in October 2024 Following Cost of Living Adjustment – Must Know! (PHOTO: Sandwich Housing Authority)
SNAP Benefit Calculation – How New Cost of Living Adjustment Impact Your October Payments
SNAP calculates how much support you get by subtracting some of your household expenses from your income. This includes things like basic living costs, earnings you don’t have to spend on food, child care, and medical expenses for older or disabled family members. Starting in October, the new benefit amounts will take these adjustments into account, helping to better match the support you need.
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