SNAP Benefits Will Increase in Weeks — Here Are Your Maximum Payments Until That

August is coming, and your next SNAP payment is just around the corner.

snap benefits august 2024 dates amounts

SNAP benefits coming in August 2024

As the year progresses, Supplemental Nutrition Assistance Program (SNAP) benefits continue to provide help to those who need it most, these payments are deposited on an EBT debit card that can be used at some select supermarkets, retailers, and farmers markets for purchasing food.

The amount of money received will depend on the income of each family, the United States Department of Agriculture (USDA) kindly added a 3,2% increase in the amounts of SNAP payments or more popularly known as coupons of food, through the Cost of Living Adjustment (COLA), and the figure was recently adjusted to take into account inflation 

Here Is How Much Each SNAP Beneficiary Family Receives in August 2024

How much do families receive from SNAP payments?

SNAP Benefits Dates in August 2024

When Will You Receive Your SNAP Benefits Payment?

Just as the money varies depending on the number of family members, the payment dates also vary depending on the state.

COLA Increase for SNAP Benefits and Social Security

The aforementioned food stamp values are valid until September 30, 2024, when the fiscal year in the United States ends. From that moment on, the COLA adjustment will be applied for SNAP benefits and for other benefits payable at the federal level, such as those of Social Security, which includes retirement payments, Supplemental Security Income (SSI), and Social Security Disability Insurance (SSDI).

The Social Security Administration (SSA) will not be able to determine the official cost of living adjustment (COLA) for 2025 until the Consumer Price Index (CPI) data for September is released, which is expected in mid-October. However, according to the Senior Citizen League’s projections, a 2.7% increase in profits is anticipated by 2025, based on current consumer price trends. This estimate was made three days ago.

The COLA increase is an essential mechanism that the SSA and the rest of the pertinent Federal Government agencies uses to ensure that benefits maintain their purchasing power in the face of inflation. Each year, the COLA is calculated based on CPI data, which reflects changes in prices for a basket of goods and services that consumers purchase regularly.

In recent years, economic fluctuations and changes in commodity prices have made the COLA estimates of great interest to Social Security beneficiaries. The Senior Citizen League, an organization dedicated to the rights and benefits of older people, makes its own projections based on the analysis of economic trends and available data. Its estimate of a 2.7% increase for 2025 reflects a moderate expectation of inflation, aligned with recent consumer price patterns.

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