The US Department of Agriculture (USDA) has confirmed the delivery date for the first Supplemental Nutrition Assistance Program (SNAP) benefits, including the new increase from the cost of living adjustment (COLA). While Social Security beneficiaries eagerly await COLA updates, SNAP recipients are also keenly interested in their annual benefit adjustments. The USDA has announced that the COLA for 2025 will first be applied to SNAP benefits, with increases taking effect in October 2024. Social Security beneficiaries, on the other hand, will see their adjustments in January 2025.
Importance of COLA Adjustments
The Social Security Administration (SSA) adjusts benefits annually to help millions of beneficiaries keep pace with inflation. These adjustments ensure that recipients do not lose purchasing power and can cover their living expenses. The COLA is determined by inflation indexes specific to each benefit. It’s worth noting that an adjustment doesn’t always result in an increase; for example, beneficiaries in Hawaii will see a decrease following the 2024 COLA. SNAP recipients, however, will benefit from the increase sooner than Social Security beneficiaries.
SNAP’s Role
SNAP is the largest hunger safety net program in the United States, aiding nearly 5 million seniors in securing nutritious food. This program not only alleviates hunger but also significantly improves overall health and well-being. In 2021, approximately 5.5 million older adults were food insecure, consuming fewer calories and nutrients, which negatively impacted their health.
SNAP benefits also help reduce healthcare costs. Rising healthcare costs disproportionately affect low-income individuals. Poor nutrition and chronic diseases like diabetes and heart disease contribute to about 20% of U.S. healthcare costs, nearly $50 billion annually. According to a 2021 North Carolina study, SNAP enrollment can lower Medicaid spending, with an estimated $2,360 less spent per person each year due to better health outcomes from SNAP assistance. Additionally, SNAP participation is associated with shorter, less costly hospital stays.
When to Expect Increased SNAP Benefits
The USDA announced that the new SNAP benefit amounts will be effective October 1, 2024. If inflationary estimates hold, benefits are projected to increase. The USDA typically releases COLA information in early August, so beneficiaries might learn about the 2025 COLA soon.
The maximum SNAP amounts vary by household size. For example, a single person can currently receive up to $291, while a family of eight can receive up to $1,751. With the projected 2.63% COLA increase, these amounts could rise to $299 for a single person and $1,797 for a family of eight. The table below provides a detailed breakdown of potential new SNAP benefits.
| Household Size | Current SNAP Benefits | SNAP Benefits (Including COLA) |
|---|---|---|
| Single Person | $291 | $299 |
| 2 People | $535 | $549 |
| 3 People | $766 | $786 |
| 4 People | $973 | $999 |
| 5 People | $1,155 | $1,185 |
| 6 People | $1,386 | $1,422 |
| 7 People | $1,532 | $1,572 |
| 8 People | $1,751 | $1,797 |
Understanding these changes and their timing helps beneficiaries plan their finances better. The early adjustment for SNAP benefits highlights the program’s importance in ensuring that recipients can meet their nutritional needs amid rising living costs.
FAQs
When will the new SNAP benefits take effect?
The new SNAP benefits will take effect on October 1, 2024.
Why are SNAP benefits increasing sooner than Social Security benefits?
SNAP benefits are adjusted earlier to help recipients manage rising living costs more promptly.
How does COLA affect SNAP benefits?
COLA adjustments increase SNAP benefits to keep pace with inflation.
What is the projected COLA for 2025?
The projected COLA for 2025 is around 2.63%.
How can I find out my new SNAP benefit amount?
Refer to the USDA announcement or your SNAP benefits statement for updated amounts.