US retiree support programs to help you survive on welfare

Many Americans retire with little to no savings. As a result, most or all of the money they receive comes from their Social Security checks. How to find special assistance programs to save money, informs CNBC.

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According to the latest data from the Social Security Administration, 12% of men and 15% of women live mainly on pension benefits (which represent 90% of their total monthly income). It can be tough on a family: The median monthly payment in June 2021 was just $1555.

Despite a larger-than-usual cost-of-living adjustment of almost 6% this year, rapidly rising housing and food prices have only added to financially vulnerable retirees' fears about their costs and future.

“People are really starting to feel the impact of inflation, especially on everyday things,” said Kristen Holt, president and CEO of GreenPath Financial Wellness, a nonprofit that focuses on debt. “And that puts a lot of strain on people living on fixed incomes.”

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Apply for meals

Experts say many older people are not getting all the food assistance available to them.

A 2015 study found that less than half of eligible older adults were in the Supplemental Food Assistance Program, or SNAP.

“Older people tend not to understand much about the program and have a sense of rejection, and unfortunately thisIt stops people from asking for help,” said Josh Protas, vice president of MAZON: A Jewish Response to Hunger.

SNAP has rules about what assets you can own and how much income you can have to get help. Social security checks also count. Applicants must submit An application.

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The USDA also has Complementary Product Program Nutrition, under which some low-income people over the age of 60 qualify for a monthly food basket containing fruits, vegetables, cheeses and more.

At the same time, Medicaid retirees may be eligible for free meals under the program. Mom's Meals. And some Medicare Advantage health plans offer food benefits through the program for those who have recently left the hospital or have a chronic illness.

Meals are typically delivered every two to three weeks and include Salisbury steak, pasta and meatballs, and sweet and sour chicken. People can report any allergies to the program, and it takes into account a diet suitable for vegetarians as well as people with certain medical conditions such as cancer or diabetes.

A spokesperson for Mom's Meals has recommended that older adults who think they qualify for free meals contact a Medicaid or Medicare representative.

Get help with health insurance and drug costs

Expensive health insurance and prescription drug costs can drastically cut retirees' incomes.

Fortunately, some of them may be eligible for help with their monthly savings program contributions. Medicare, said Caitlin Donovan, spokeswoman for the National Patient Protection Fund, a non-profit organization that helps patients access and pay for health care.

“If you qualify, your premiums, deductions, and co-payments will be covered, which will be a huge financial relief for everyone,” Donovan said.

In addition, people enrolled in Medicare Part D, which covers prescription drugs, must check to see if they are eligible. extra help. This program can reduce the cost of your medications. Donovan says the benefit could be more than $5000 a year.

There are also a number of charities that help older people pay for their medical expenses. For example, on Copays.org you can apply for co-pays, premiums, deductibles, and over-the-counter drugs.

The National Patients' Rights Foundation has catalog of financial resourceswhere you can find local help for everything from dental care to end-of-life services.

Other options …

While you must have a very low income to qualify for the programs, some retirees will be eligible for Supplemental Security Income, a means-tested program for those over 65 or with a disability.

In December 2021, more than 2,5 million people received both Social Security and an additional payment that can reach $841 per month per person. You can apply for website Social Security Administration or call 1-800-325-0778.

For more help, the National Council on Aging has Benefit Check websitewhere you can learn about over 2000 resources available for seniors in need by zip code. The council also has a guide called "You Gave, Now Save" that includes information on the most generous benefits that help seniors with expenses like phone bills and property taxes.

Finally, some older people may work at least part-time to supplement their income. More than a third of Americans over 65 now do so, according to Teresa Gilarducci, director of the New School's Pension Capital Lab.

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The Department of Labor has program, which helps low-income, unemployed older people find jobs and receive some training, Gilarducci noted. Another resource is the national non-profit organization BEING and its network of community organizations offering vocational training.

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