Through September 30, SNAP benefit amounts will remain as they are; After that date, an increase is expected due to inflation. Although we are already halfway through the month, some states are still distributing SNAP payments in August, meaning many recipients will receive their allotment in the coming days.
The Supplemental Nutrition Assistance Program (SNAP benefits) is a federal program funded by the United States Department of Agriculture (USDA) and administered locally by states and counties to better serve the needs of their residents.
This program provides monthly coupons through a debit card known as an Electronic Benefit Transfer (EBT) Card, which allows beneficiaries to purchase food at a wide variety of authorized establishments, including supermarkets and markets on wheels.
States that are still sending SNAP payments in August 2024:
- Alabama: from August 4 to 23
- Delaware: from August 2 to 23
- Florida: from August 1 to 28
- Georgia: from August 5 to 23
- Indiana: from August 5 to 23
- Louisiana: from August 1 to 23
- Maryland: from August 4 to 23
- Michigan: from August 3 to 21
- Mississippi: from August 4 to 21
- Measurements: from August 1 to 22
- New Mexico: from August 1 to 20
- Ohio: from August 2 to 20
- Tennessee: from August 1 to 20
- Texas: from August 1 to 28
- Utah: August 5, 11 and 15
- Washington: from August 1 to 20
If you are a resident of one of these states and have not yet received your benefits, your SNAP payment could arrive in the next few days.
Maximum SNAP Allotments in 2024
In 2024, the amount of SNAP benefits a household can receive is determined by the size of the family, as well as other factors the program considers, such as resources and income levels. This year, benefits have been cost-of-living adjusted (COLA), resulting in a 3.2% increase in award amounts.
However, these amounts are scheduled to change soon, as September 30 is the deadline for the current values. After that date, a new increase is expected based on inflation, which is estimated to be between 2.6% and 2.8%, thanks to contained inflation.
Through September 30, 2024, the maximum monthly SNAP payments, based on household size, are as follows:
- A home with 1 member can receive up to $291.
- A home with 2 members can receive up to $535.
- A home with 3 members can receive up to $766.
- A home with 4 members can receive up to $973.
- A home with 5 members can receive up to $1,155.
- A home with 6 members can receive up to $1,386.
- A home with 7 members can receive up to $1,532.
- A home with 8 members can receive up to $1,751
- Each additional member can receive up to $219
The SNAP Benefits Will Soon Increase to Deal with Inflation
The cost of living increase (COLA), an increase in payments for SNAP benefits and other federal programs such as Social Security and Medicare, will be announced soon, and experts predict that the increase will not even reach 3%.
Some forecasts say that the COLA increase will be somewhere between 2.6% and 2.7%, but not much more than that. This is because inflation has been trending downward and remains relatively “calm”.
The Cost-of-Living Adjustment (COLA) is designed to ensure that benefits keep pace with inflation, preserving the purchasing power of recipients. The calculation is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which measures changes in the cost of goods and services typically purchased by urban workers.
How Is the COLA Calculated?
To determine the COLA, the Social Security Administration (SSA) compares the CPI-W from the third quarter (July, August, and September) of the current year with the CPI-W from the same period in the last year a COLA was calculated.
If the CPI-W shows an increase, the COLA is set at the same percentage as the rise in the CPI-W, ensuring that benefits reflect the inflation rate. This percentage increase is then applied to Social Security and Supplemental Security Income (SSI) benefits for the upcoming year.
The calculated COLA is rounded to the nearest tenth of a percent before being applied. This adjustment helps beneficiaries maintain their standard of living despite rising costs of living.