SNAP Benefits Update: Can You Still Get Food Stamp Payments If You Have Your Own House and Lot, Retirement Savings?
SNAP benefits update has been reflected started on October 1 to be at par with the rising cost of basic goods based on the U.S. Department of Agriculture's new cost-of-living adjustments.
The U.S. Agriculture Department noted that all eligible households can get SNAP benefits regardless of their race, sex, religious affiliation, national origin, or political beliefs. Applicants can file a complaint of discrimination if they feel they have been subjected to such an act.
As of now, more than 41 million Americans are enrolled in the anti-hunger program for low-income families, seniors, and people with disabilities. Over two-thirds of participants are in families with kids.
Many who receive benefits still have difficulty paying for enough food on top of the housing and other basic living expenses.
You can be eligible for SNAP benefits if you are at the federal poverty guidelines created by the Office of Management and Budget, among other eligibility determinations.
READ NEXT: SNAP Benefits Update: How To Apply for Extra $95 Food Stamp Payments in Texas
SNAP Benefits Eligibility
SNAP benefits eligibility is determined on three categories such as gross monthly income, net income, and assets.
SNAP benefits count cash income from all sources such as earned income and unearned income, which comprises cash assistance, Social Security, unemployment insurance, and child support.
Meanwhile, assets or resources are considered as amounts in bank accounts.
In California, applicants will need to have a current bank balance, both savings and checking combined, under $2,001 to be eligible for SNAP benefits.
If you share your household with one person or persons age 60 and over or a person with a disability, your current bank balance should be under $3,001.
SNAP income limits for gross monthly income for a household size of one should be at $1,473 and $1,133 for net monthly income to qualify.
Students can also be eligible for SNAP benefits if they are enrolled less than half-time. The number of hours considered as half-time enrollment is based on the institution of higher education.
Non-citizens can also be eligible for SNAP benefits as long as they have lived in the United States for at least five years; receive disability-related assistance or benefits, and be children under 18.
SNAP Benefits Resources
Some states have the option to relax their rulings on the resources of their SNAP benefits applicants.
Applicants must show that they have less than $2,250 in countable resources. If you have a household member that is either disabled or over the age of 60, you can have up to $3,500 in countable resources.
Countable resources also include cash, bank accounts, bonds, cars that are not used for work purposes, and stocks.
Meanwhile, SNAP guidelines specifically exclude houses, trailers, and lots from the countable resources category.
Ownership of a house, condominium, lot, motor home, or any other shelter does not disqualify you from the SNAP benefits.
When applying for food stamp payments, applicants will be interviewed regarding the amount they pay each month in a mortgage or other loan payments.
The SNAP benefits payments will usually disregard assets held in most employer-sponsored retirement plans.
However, assets in certain other retirement accounts are counted such as Individual Retirement Accounts, such as 401(k); Keogh plans, which are plans for self-employed individuals; and Simplified Employer Pension plans, which are similar to IRA accounts into which small employers make direct deposits.
READ MORE: Disaster SNAP Benefits Update: Are You Eligible for New Florida Payments?
This article is owned by Latin Post.
Written by: Mary Webber
WATCH: November Food Benefits - Emergency Allotments - from HealthWatch Wisconsin
Subscribe to Latin Post!
Sign up for our free newsletter for the Latest coverage!