Shelley EYou can still enjoy a relaxing retirement, even if you have a low income. Here’s a long list of programs that can make that common senior goal possible.
1. Medicaid
Even if you weren’t living on a fixed income, the high costs of medical care could drain your bank account after just one emergency. With Medicaid, low-income seniors can get help with medical expenses.
2.Medicare
If you worked in the past, you paid into Medicare. This form of government insurance can help with hospital costs, medical costs, free screenings, prescriptions, and more. You can combine Medicare with Medicaid to minimize your healthcare costs as much as possible.
3. Extra Help
Speaking of Medicare, Extra Help is a program that can assist low-income seniors with prescriptions. If you meet the income requirements, you could get as much as $5,000 yearly towards drug costs.
4. Social Security
Many seniors count on Social Security benefits as a large portion of their fixed retirement income. Just as with Medicare, you paid into Social Security while working.
Now that you’re retired, you can get paid back with monthly benefits, which average out to just under $1,500 monthly in May 2020. If you didn’t work, you could still qualify through your spouse or if you have a disability.
5. Supplemental Security Income
Some people confuse Social Security benefits with SSI. They’re not the same, as SSI is a form of public assistance that helps qualifying seniors, the disabled, and blind with necessities like shelter, food, and clothing.
6. Supplemental Nutrition Assistance Program
SNAP, which is still referred to by some as food stamps, can provide financial assistance so seniors can get the groceries they need. You’ll need to meet income requirements to qualify for SNAP, as it’s based on financial need.
7. Government Housing Programs
Low-income seniors can get housing assistance from the government from these three popular programs:
- Section 8 – Also known as the Housing Choice Voucher Program, it gives seniors an option to continue independent living via affordable rent.
- Section 521 – Formally known as the Rural Rental Assistance Program, this offers subsidized rental units thanks to the U.S. Department of Agriculture.
- Section 202 – You could look at this program (Supportive Housing for the Elderly) like Section 8, but specifically for seniors since its units are outfitted with their needs in mind.
8. The Senior Community Service Employment Program
SCSEP offers job training to seniors looking to stay active while boosting their income. Most of the jobs provide part-time work at a minimum wage for qualified participants over 55.
Where to Find More Assistance Programs for Seniors
While the list above is a good start when it comes to benefits for seniors, you can find a lot more resources by visiting BenefitsCheckup.org. With over 2,500 benefit programs across the country, you’re bound to find different ways to cover your costs or supplement your retirement income.
A similar online resource for seniors is the Eldercare Locator. The site is run by the U.S. Administration on Aging and is meant to help seniors and their caregivers.
Mark Luigi
