SNAP Benefits Increase – 2023 Cost of Living Adjustments

Author: | Posted in Uncategorized No comments
SNAP Benefits Increase – 2023 Cost of Living Adjustments

American families who receive Food Stamps or the Supplemental Nutrition Assistance Program (SNAP) benefits will continue to get higher monthly allotments throughout the 2023 fiscal year compared to the previous fiscal year. This is due to the 2023 cost-of-living adjustments (COLA) to cushion the effect of inflation.

As SNAP food stamp benefits increase in 2023, families of four will get maximum monthly allotments of $939, and households of five will receive $1,116 as maximum monthly allotments. This is an additional $104 and $124 increase, respectively, from the previous fiscal year.

Keep reading for everything you need to know about the impact of COLA on food stamp benefits.

SNAP Benefits Cost-of-Living Adjustment for Fiscal Year 2023

Every year, the Bureau of Labor Statistics (BLS) calculates the federal COLA using data from the Consumer Price Index (CPI) to account for inflation.

With food prices reaching an all-time high of 13.5%, many American families are feeling the brunt of inflation. A SNAP household depending on SNAP food stamp benefits may have had some relief in the fiscal year 2022, but the soaring price of food is quickly eroding their food-purchasing power.

Thankfully, the 2022 SNAP benefits increase isn’t a one-time event. SNAP beneficiaries will receive a 12.5% COLA for the fiscal year 2023.

Keep in mind that the US federal government’s fiscal year begins on October 1 of one calendar year and runs through September 30 of the following year. This means households that receive SNAP benefits will see an increase in their monthly allotments from October 1, 2022, through September 30, 2023.

How much more dollars will households get with the cost-of-living adjustment in the fiscal year 2023 as against the payments in the fiscal year 2022?

Here is a comparison of 2022 vs. 2023 maximum monthly SNAP benefit amounts and allotments for recipients in the 48 contiguous states and the District of Columbia:

Household of one person:

  • Fiscal year 2022: $250
  • Fiscal year 2023: $281

Household of two persons:

  • Fiscal year 2022: $459
  • Fiscal year 2023: $516

Household of three persons:

  • Fiscal year 2022: $658
  • Fiscal year 2023: $740

Household of four persons:

  • Fiscal year 2022: $835
  • Fiscal year 2023: $939

Household of five persons:

  • Fiscal year 2022: $992
  • Fiscal year 2023: $1,116

Household of six persons:

  • Fiscal year 2022: $1,190
  • Fiscal year 2023: $1,339

Household of seven persons:

  • Fiscal year 2022: $1,316
  • Fiscal year 2023: $1,480

Household of eight persons:

  • Fiscal year 2022: $1,504
  • Fiscal year 2023: $1,691

Households larger than eight persons:

  • Fiscal year 2022: $188 for each additional person
  • Fiscal year 2023: $211 for each additional person

The SNAP benefits increase for the fiscal year 2023 is considerably higher for recipients in Guam, Hawaii, Alaska, and the US Virgin Islands.

This is because the cost of living in those areas is much higher than in other parts of the United States. In fact, Alaska has three different allotments for SNAP beneficiaries ― two rural categories and one urban category.

If you live in any of these states or territories, visit this USDA page to see how the COLA increases your maximum monthly allotments for the fiscal year 2023.

Can the SNAP Benefit Increase Combat Increasing Inflation?

While the latest COLA offered some relief to SNAP beneficiaries, it may not have a significant positive effect if food prices keep increasing. Millions of American households (including those who don’t receive food stamp benefits) are already feeling the negative impact of inflation.

A SNAP household that relies on the average benefit of SNAP may have to give up buying certain healthy but expensive foods and stick to cheaper and less nutritious foods. Unfortunately, this will defeat the goal of the benefits program, which is to assist low-income families in affording nutritional foods.

Also, some SNAP recipients in certain states, like Louisiana, get emergency allotments in addition to their regular monthly benefits. When the federal emergency aid eventually ends, these beneficiaries will see a noticeable drop in their monthly payments, leading to even lesser food-purchasing power.

That said, there are indications that inflation may be slowing down in the United States, especially in recent months. This can lead to more buying power for SNAP beneficiaries, provided the tempo is sustained in the coming months.

What Do You Need to Do to Receive the Fiscal Year 2023 SNAP Benefits Increase?

If you are already enrolled in SNAP, you don’t have to re-qualify or do anything to see an increase in your SNAP benefits. The increase is automatic, and you will continue to receive it as long as you are eligible for SNAP benefits.

However, remember to recertify for SNAP benefits at the right time. Depending on your state and case, you may need to recertify after 6, 12, 24, or 36 months.

On the other hand, if you would like to receive monthly allotments but aren’t yet enrolled in the benefits program, read our article to learn how to apply for SNAP benefits.