Each year, the U.S. government calculates the new maximum benefit for food stamp (Supplemental Nutritional Assistance Program, or SNAP) recipients based on inflation.
SNAP Benefits: How Long Do They Last?
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The new Cost-Of-Living Adjustments (COLA) go into effect on October 1 each year and are active through the following year. For Fiscal Year 2023, the U.S. Department of Agriculture Food and Nutrition Service increased allotments for 48 states and Washington D.C., as well as Alaska, Hawaii, Guam, and the U.S. Virgin Islands. Caps and resource limits were also raised to reflect inflation.
So, what is the maximum SNAP EBT benefit for 2023?
The maximum allotments for SNAP for a family of four have increased as follows, according to the USDA website:
The shelter cap values, which is the amount of money SNAP recipients can deduct from their income to determine SNAP benefits, have also risen by $27, up to $624, in the 48 contiguous states and D.C. Maximum shelter deductions in other places have increased as follows:
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Alaska: $996
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Hawaii: $840
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Guam: $732
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Virgin Islands: $492
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Maximum asset limits have risen to $4,250 for households with at least one family member who is 60+ or disabled and up to $2,750 for all other households. If your household income changes by more than $125 per month, you should report that change.
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This article originally appeared on GOBankingRates.com: Food Stamps: What Is the Maximum SNAP EBT Benefit for 2023?
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