The Supplemental Nutrition Assistance Program (SNAP), or as it used to be known, food stamps, has been around for a long time. It goes all the way back to the Agricultural Adjustment Act of 1933, signed into law by FDR. Over the years since it’s seen a lot of changes. It’s gone from physical coupons to debit cards and it even allows you to buy food online from select vendors.
It remains a means-tested benefit, you have to pass an asset and income test to qualify. You should know there are (2) different tests, one for “able-bodied adults” and one for the “elderly or disabled”. Throughout the rest of this article, I will be addressing only the rules as applied to the elderly or disabled. SNAP is a Federal program, administered by the States. So you may find your state’s requirements and benefits are different than what I’ve outlined here. For the most accurate information, you’ll want to visit your state’s program.
Let’s talk about the asset and income limits. SNAP limits are established by Fiscal Year. Their Cost of Living Allowance (COLA) increase is applied on 1 October. Households with at least one person who is at least 60 years old and/or disabled can have up to $4,250 in assets. If the individual is on Supplemental Security Income (SSI) then their assets are not counted. This also applies to assets in a properly established Special Needs Trust (1st or 3rd Party) and ABLE accounts. These are just a few of the exceptions, again you’ll want to visit your state’s program for complete details.
Income has to meet BOTH the gross and net income limits. It’s important to note SNAP considers both earned and unearned income, just like SSI. In fact, SNAP counts SSI, Social Security Disability Insurance (SSDI), and Veteran Disability benefits as unearned income. The good news, if you want to call it that, is if you are already receiving SSI you may be deemed “categorically eligible”, meaning you’ll qualify as soon as you apply and show you are a Household of one.
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