Many low and middle income Americans are still struggling, unaware that relief measures and financial assistance are still available at government agencies. The economic relief available includes billions of dollars in federal rental assistance as well as food-assistance options, and expanded health-care for low-income citizens.
Below are some important options still open to qualified citizens:
The National Low Income Housing Coalition
This coalition has a state-by-state list of the more than 500 programs that give out financial aid to low income citizens. Applicants can use the Consumer Financial Protection Bureau’s new tool that assists people in applying fot a specific aid that includes getting up to 18 months of rent covered.
Rental Assistance – Tenants who have fallen behind their rent can get help from the billions of dollars of funds accessible as federal rental assistance. According to experts, those who have received eviction notices should apply as soon as possible.
Student Loan Break – The Biden administration announced during the previous month that suspension of collections on federal student loans will be prolonged until May 1, in light of the new omicron variant.
Expanded Food Stamps – The federal government approved the largest boost to food assistance benefits last year via the Supplemental Nutrition Assistance Program (SNAP). The pre-pandemic average benefit of $121 has been raised to $157 according to the USDA. To qualify, a person’s income and asset must be within bracket of the SNAP rules. Some expenses like childcare costs and rent can be added as additional deductions to income..
Expanded Health Insurance Options
During the public health crisis, the Congress passed a legislation that boosted the available tax credits to citizens purchasing health insurance plans on the Affordable Care Act’s marketplace. This will continue during the year, and the credits will lessen a citizen’s required out-of-pocket healthcare expenses. The new rules states that no one should be spend more than 8.5% of their income on health care coverage. Individuals who have been recipients of unemployment insurance last year, can obtain a nearly-free or entirely free health care plan.