If you’re preparing to retire or already have and are living off social security benefits, things might be a bit tight. They don’t have to be! There are numerous resources for seniors surviving on social security income. These resources are available through state, federal, and local program providers. Furthermore, whether you’re looking for a little extra assistance or just want to live a little more comfortable, these are some places to turn.
Housing Resources
With the average senior receiving about $750 and about $1100 per couple (2014), it’s tough to live on social security benefits alone. There are, however, housing benefits you can utilize to help you pay for an apartment or mortgage. Affordable senior housing is available through HUD (US Dept of Housing & Urban Development).
If you’re struggling to pay your rent or mortgage with social security benefits, there are definitely places you can turn. It’s without a doubt beneficial for you to research these forms of assistance.
Healthcare Help
If you are having a hard time paying for housing, you’ll obviously need help in other areas. Especially if you are living off social security income alone. There are numerous options available to seniors who need financial help with their healthcare needs. Medicare and Medicaid are two programs available for seniors who are looking for financial assistance for medical care.
Medicare only pays about 80% of total healthcare costs annually. Therefore, you might need help paying the additional 20% yourself. This is where Medicare assistance programs come into place. Some of the assistance programs are
- Low income qualified assistance
- Qualified Medicare beneficiary help (QMB)
- Specified low-income Medicare beneficiary Program
- Qualified individual assistance
- Qualified disabled and working program
If you meet the criteria laid out in these programs, you can receive assistance paying the additional 20% for medical care. And, these programs can also cover Part A and Part B expenses, if you go over your total Medicare limit annually.
Medicaid is a second option. If you are 65 or older and have limited resources, you can qualify for this assistance. It covers inpatient treatment, doctor visits, medication, and more. You’ll have to go to your local Medicaid office to apply.
If you are a senior struggling to pay your medical expenses, there are assistance programs available to assist you. Also, these are a few of the many ways in which you can fund your healthcare needs when you retire.
Other Forms of Help
Unquestionably, If you’re still in need of resources when living off social security, there are other resources available to you. For example, the PACE program (program of all inclusive care for the elderly). Prescription drug co-payment programs are also available to seniors through social security benefits. PACE can help with
- Dental care
- Home care
- Emergency services
- Nutritional counseling
- Nursing homes, and other areas in which seniors need help paying for medical/professional care needs
There are many resources you can rely upon as a senior when you are living off social security benefits. You do not have to pay out of pocket expenses for some of the costs you are currently paying. Doing a little research will go a long way in finding the help you need.
No matter how much help you require, there are several great opportunities for you to apply for. Consider a few of these resources when you’re in need of a little extra financial assistance. You can retire comfortably, and rely on social security benefits for yourself and your spouse. With the right government funds and resources you don’t have to live check to check (benefit to benefit). Apply for these great programs today to help fund your health, living, and general expenses after retirement.
