SNAP Benefits Update: SNAP Benefits Maximum Asset Limits Have Increased to $4,250 | Is Your Household Covered?

SNAP benefits update has been imposed in October 2022 with the new cost-of-living adjustments going into effect for the fiscal year 2023.

Go Banking Rates noted that the Department of Agriculture Food and Nutrition Service has increased allotments for 48 states and D.C., covering Alaska, Hawaii, Guam, and U.S. Virgin Islands too.

The maximum allotments for SNAP benefits recipients of family of four have increased to $939 in 48 states and D.C.; $1,819 in Alaska; and $1,794 in Hawaii.

In Guam and U.S. Virgin Islands, the maximum allotments for SNAP benefits for a family of four increased to $1,385 and $1,208 respectively.

Around 41 million Americans benefit from the food stamp program based on U.S. Agriculture Department's data.

Aside from allotments, the SNAP criteria have also increased such as the income eligibility standards and deductions.

SNAP Benefits 2023

With the increase in COLA for the fiscal year 2023, the shelter cap values for SNAP benefits have also increased up to $624 in the 48 states and D.C.

Shelter cap values are the amount of money SNAP recipients can deduct from their income to determine SNAP benefits.

The maximum shelter cap also increased to $996 in Alaska; $840 in Hawaii; $732 in Guam; and $492 in Virgin Islands.

Forbes noted that the gross monthly income cap for a family of three receiving food stamps also increased to $2,495 from $2,379.

Maximum asset limits also increased to $4,250 for households with at least one family member who is aged 60 or over, or disabled.

For other households, the maximum asset limits rose to $2,750.

SNAP benefits recipients are encouraged to report any income changes by more than $125 per month.

SNAP benefits also increased by 12.5% for 12 months in October as compared to the previous year. It is adjusted yearly to account for inflation.

SNAP benefits recipients are not required to do anything to see the increases reflected on their food stamps as it would be automatically deposited.

The Food Research & Action Center noted that the new SNAP increases fall short and more changes are needed to close the gap between the number of benefits and the actual cost of food.

SNAP Benefits Update

SNAP benefits emergency allotment in California was approved and will be available on EBT cards in Humboldt County on Nov. 27, 2022. It is for the October CalFresh emergency allotment.

Those who also missed out during the EA issuance for both August and September 2022 will be included as part of the "clean-up" effort.

New York households receiving SNAP benefits will also get an additional allotment of at least $95 in their benefits, according to New York Gov. Kathy Hochul.

The governor's office noted that the emergency allotments were supposed to expire this month. However, it has been extended to Jan. 11, 2023, which would allow the state to continue providing supplementary payments through February.

This article is owned by Latin Post.

Written by: Mary Webber

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