Cost of living adjustment to take effect on October 1, 2024, benefiting nearly 5 million seniors who rely on the program to stay healthy and reduce healthcare costs.
USDA Announces Early Increase in SNAP Benefits to Boost Food Insecurity Relief for Seniors
The USDA has announced that SNAP benefits will increase starting October 1, 2024, due to a cost of living adjustment (COLA). This boost will happen before the Social Security Administration’s adjustment which will start in January 2025. The change follows a similar schedule to last year’s announcement, which was made on August 3rd. This early increase is important for the nearly 5 million seniors who use SNAP to buy healthy food helping them stay healthy and lowering their healthcare costs.
SNAP benefits are crucial for older adults who might not get enough to eat. By making it easier for them to buy nutritious food, SNAP helps seniors feel fuller and healthier. Studies show that SNAP can cut Medicaid costs by about $2,360 per person each year because it leads to better health and fewer hospital visits. This shows how important SNAP is not just for individuals but also for reducing overall healthcare expenses, according to the report of Lagrada.
(photo: Marca.com)
SNAP Benefits to Increase in 2025
The amount of the SNAP increase will depend on how many people are in a household. For example, a single person’s benefits might go up from $291 to $299, and a family of eight could see an increase from $1,751 to $1,797. These changes are meant to keep up with inflation and help people get the food they need. As more details about the 2025 COLA come out and people will be watching to see how these adjustments will affect their monthly benefits.
