$600 Money Americans Could Lose Per Year Because Of COLA In 2023
cost-of-living-adjustment (COLA) can come higher with negative implications, this has already been felt by some families. COLA will be 8.7%, giving the Social Security claimants a boost of $144.10 on average, for 2023.
Sadly families that are relying on SNAP will see a decrease in benefits. Unfortunately, other public assistance programs like the Supplemental Nutritional Assistance Program (SNAP) are pushing some beneficiaries over the income cap from that extra cash.
According to a published post by The US Sun, the Department of Child and Family Services of Louisiana reported that over 145,330 households are getting beneficiaries and will see $600 per year or $50 now per month. That is about 34% of all SNAP households in the state.
What’s more, is that households will be pushed over the income cap and have their cases closed by another 1,414 SNAP.
According to the department, families who receive Emergency Allotments with the maximum payments may not see the full effect of the lower benefits until those expire.
For some of those enrolled in the Family Independence Temporary Assistance Program (FITAP) and Kinship Care Subsidy Program (KCSP), their benefits will be reduced by next year.
Americans could lose up to $600 a year because of COLA in the new year – see if you’ll be affected (Photo: The US Sun)
WHAT IS SNAP?
SNAP is referred to as food stamps. This allows families to buy food, such as vegetables, fruits, dairy products, meat, fish bread, and cereals, and also provides families with a pre-loaded electronic benefit transfer (EBT) card.
The benefits here are loaded onto your EBT and at more than 238,000 retailers nationwide you can use this card monthly to buy groceries.
WHO IS ELIGIBLE TO APPLY FOR FOOD STAMPS?
The person must apply for SNAP in the state where you currently live. Be informed that each state has a different application form and procedure.
For a single-person household and increases depending on the family size it currently starts at $12,880. An example is the poverty threshold for a four-person household is $26,500.
READ ALSO:SNAP Participants In New York Will Receive At Least Additional $95 In December
