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AID WITH FOOD EXPENSES
To combat the stigma that some older adults attach to food stamps, AARP has launched a marketing cam paign in Atlanta and Houston explain ing that “food prices are rising and we’re all trying to stretch our grocery budgets,” said Nicole Heckman, vice president of benefit access programs at the AARP Foundation.
Millions of older adults are having trouble making ends meet, especially during these inflationary times. Yet many don’t realize help is available, and some notable programs that offer financial assistance are underused.
Assessments identify which feder al, state, and local programs can assist with various needs — food, housing, transportation, health care, utility costs, and other essential items. Often, staffers at the agency will help seniors fill out application forms and gather necessary documentation.
assistance monthly can make a world of difference to older adults living on limited incomes that make it difficult to afford basics such as food, housing, transportation, and health care. But people often don’t know how to find out about benefits and whether they qualify. And older adults are often reluctant to seek help, especially if they’ve never done so before.
A few examples: Nearly 14 million adults age 60 or older qualify for aid from the federal Supplemental Nutri tion Assistance Program (also known as food stamps) but haven’t signed up, according to recent estimates. Also, more than 3 million adults 65 or older are eligible but not enrolled in Medicare Savings Programs, which pay for Medicare premiums and cost sharing. And 30% to 45% of seniors may be missing out on help from the Medicare Part D Low-Income Subsidy program, which covers plan premiums and cost sharing and lowers the cost of prescription drugs.
“You’ve earned these benefits,” Hodges said, and seniors should think of them “like their Medicare, like their Social Security.”
Even a few hundred dollars in
“Tens of billions of dollars of benefits are going unused every year” because seniors don’t know about them, find applications too difficult to complete, or feel conflicted about asking for help, said Josh Hodges, chief customer officer at the National Council on Aging, an advocacy group for older Americans that runs the National Center for Benefits Outreach and Enrollment.
GETTING HELP
Older adults who are comfortable
Some aging organizations are adapting to heightened demand for help from seniors by focusing atten tion on core benefits such as food stamps, which have become even more important as food inflation runs around 10%.
The potential to help seniors with these expenses is enormous. In a new series of reports, the AARP Public Policy Institute estimates that 71% of adults age 60 and above who qualify for the Supplemental Nutrition Assis tance Program haven’t signed up for benefits.
If the effort alters seniors’ percep tion of the program and increases enrollment, AARP plans to do a major expansion next year, she said.
Many programs target seniors with extremely low incomes and minimal assets. But that isn’t always the case: Programs funded by the Older Amer icans Act, such as home-delivered meals and legal assistance for seniors facing home foreclosures or eviction, don’t require a means test, although people with low incomes are often prioritized. And some local programs, such as property tax breaks for home owners, are available to anyone 65 or older.
A common mistake is waiting until a crisis hits and there’s no food in the refrigerator or the power company is about to turn off the electricity.
By Judith Graham Kaiser Health News
WHILE INFLATION TAKES TOLL ON SENIORS, BILLIONS OF DOLLARS IN BENEFITS GO UNUSED
In every community, Area Agen cies on Aging, organizations devoted to aiding seniors, perform benefits assessments or can refer you to other organizations that conduct these eval uations. (To get contact information for your local Area Agency on Aging, use the Eldercare Locator, a service of the federal Administration on Aging, or call 800-677-1116 on weekdays during business hours.)
“It’s a much better idea to be prepared,” said Sandy Markwood, chief executive officer of USAging, a national organization that represents Area Agencies on Aging. “Come in, sit down with somebody, and put all your options on the table.”
In some cases, older adults may think benefits are too small to be worth the hassle. But seniors who lived alone received an average of $104 in food stamps per month in 2019. And at least 3 million adults 50 and above with very low incomes would receive more than $200 a month, AARP estimates.
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online and want to do their own research can use BenefitsCheckUp, a service operated by the National Council on Aging, at benefitscheckup. org. Those who prefer using the phone can call 800-794-6559.
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Here’s how to get started and some information about a few programs.
The value of these health care bene fits, targeted at low-income seniors, is substantial. At a minimum, Medicare Savings Programs will cover the cost of Medicare’s Part B premiums: $170 a month, or $2,040 annually, for most seniors. For older adults with the low est incomes, benefits are even broader, with cost sharing for medical services also covered.
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For veterans, “this may be the time to take a look at using your VA benefits,” said Diane Slezak, presi dent of AgeOptions, an Area Agency on Aging in suburban Cook County,
Illinois. “I run into a lot of people who are eligible for veterans benefits but not taking advantage of them.”
BARRIERS TO GETTING HELP
AARP is also working closely with community organizations that help older adults apply for Medicare Savings Programs and low-income subsidies for Part D prescription drug plans. It plans to expand this program next year to as many as 22 states.
UNUSED BENEFITS
OTHER KINDS OF ASSISTANCE
Advocates for many programs note that agencies serving older adults are facing staff shortages, which are complicating the efforts to provide assistance. Low pay is a commonly cited reason. For example, 41% of Area Agencies on Aging report staff vacancies of up to 15%, while an additional 18% report vacancies up to 25%, according to Markwood. Also, agencies have lost significant numbers of volunteers during the covid-19 pandemic.
Be sure to check out property tax relief programs for seniors in your area as part of a broader “benefits checkup” process.
At the same time, demand for help has risen, and clients’ needs have become more complex because of the pandemic and growing inflation.
“Even if you think you might not qualify, you should apply because there are different rules across states,” said Meredith Freed, a senior policy analyst for KFF’s Program on Medi care Policy.
prescription drug plans, also known as Extra Help, are worth $5,100 annu ally, according to the Social Security Administration. Currently, some se niors get only partial benefits, but that will change in 2024, when all older adults with incomes below 150% of the federal poverty level ($20,385 for a single person in 2022) will qualify for full Extra Help benefits.
AID WITH HEALTH EXPENSES
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“All of this is being amplified by the financial strains older adults are feeling,” Markwood said.
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Because these health care programs are complicated, getting help with your application is a good idea. Freed suggested that people start by contact ing the State Health Insurance Assis tance Program in their state (contact information can be found here ). Other potential sources of help are the Medi care hotline (800-633-4227) and your state’s department of aging, which can direct you to community organizations that help with applications. A list of the state departments can be found here.
Low-income subsidies for Part D
Older adults with low incomes also can get assistance with high energy bills through the Low Income Home Energy Assistance Program. Your local utility company may also provide emergency relief to seniors who can’t pay their bills. It’s worth making a call to find out, advised Rebecca Lerfelt, the retired assistant director of a Chicago-area Aging and Disabil ity Resource Center. These resource centers help people seeking access to long-term care services and are anoth er potential source of assistance for older adults. You can find one in your area here.
According to SCL’s new Seniors Priority Survey, 37 percent of partici pants reported they received low-in come assistance in 2021.
With sustained inflation near a 40year high, Social Security could get a historic boost next year to help seniors keep up. The most recent estimate for a 2023 cost of living adjustment (COLA) is 9.6 percent, says Mary Johnson, Social Security and Medicare policy analyst for senior advocacy group the Senior Citizens League (SCL).
An adjustment of 9.6 percent would increase the average monthly Social Security retirement benefit of $1,656 by $158.98, says Johnson.
A significant COLA for Social Secu rity is expected for 2023 in the face of persistent rising inflation. The increase will certainly be welcome, but seniors will be looking for a number to cover at least the difference between their monthly benefit and rising prices.
The CPI-W is the benchmark upon which monthly Social Security bene fits increases are determined, but the Senior Citizens League has long advo cated that the index is not representa tive of the way seniors live.
One often-cited gripe with the CPI-W is the weight it gives to things like gasoline – something urban wage and clerical workers might need to commute to work every day more so than retired seniors. The SCL says this figure underestimates the inflation experienced by Social Security recip
The league calls for the use of R-CPI-E, or the Consumer Price Index for the Elderly, in place of the CPI-W. The R-CPI-E is based specifically on the spending patterns of the elderly. The group estimates that a senior who filed for Social Security with an average level of benefits over thirty years ago would have received about $14,000 more in retirement, had the R-CPI-E been used to calculate bene fits.
ients, since it does not give enough weight to expenses senior citizens have, such as healthcare or housing.
In 2022, roughly 14 percent of sur vey participants said their low-income assistance was actually reduced as a result of their increased Social Securi ty benefit, and another 6 percent lost access altogether to at least one other program. Low-income assistance pro grams require recipients to stay under a certain income level to qualify for benefits. Last year’s COLA increase
Bottom line
assistance might be affected by higher COLA increases. Higher benefit amounts next year might hurt the eligibility of low-income assistance recipients to obtain that assistance.
Consumer Price Index (CPI) reports to end the summer showed inflation up over the last 12 months, making it more difficult for people living on fixed incomes, like those from Social Security benefits, to make ends meet.
By Georgina Tzanetos Bankrate.com/TNS
Those who receive low-income
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The prior COLA came in at 5.9 per cent, and 9.6 percent this year would be enormous in terms of COLA rates in the recent past.
The 2023 COLA will be based on third-quarter data from the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W. John son says the announcement is expect ed around Oct. 13, after the release of the September CPI report. If inflation “runs hot” or higher than average, Johnson predicts the COLA could run up to 10.1 percent for 2023. Should it run lower than the recent figures, she says 9.3 percent might be more likely.
of 5.9 percent was one of the largest in history and pushed many over the edge of Shouldeligibility.theCOLA increase even further in 2023, there may be a sizable portion of seniors in the lose-lose situation of being phased out of their low-assistance program thresholds, but still not covering inflation due to soaring prices.
INFLATION MAY PUSH SOCIAL SECURITY COLA UP AROUND 10% IN 2023
COLA is a double-edged sword for low-income workers
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• Supplemental Security Income, which provides cash for basic needs.
There are thousands of programs on BenefitsCheckUp, including:
• Funeral director and staff’s time
HOW MUCH DOES A FUNERAL COST?
For more information, visit digni tymemorial.com.
One of the easiest ways to find out if you’re eligible for benefits is to visit the National Council on Aging’s BenefitsCheckUp.org. The free and confidential tool connects older adults, people with disabilities and caregivers to benefit programs. The site is easy to use, even for people with minimal digital experience.
• The Supplemental Nutrition Assistance Program (SNAP), which can help you pay for healthy food.
“It only takes a few minutes to learn about all the programs avail able and how to apply,” said Ramsey Alwin, president and CEO of NCOA. “For example, there are Medicare programs that can boost your budget by helping with prescription drug costs, as well as premiums, deductibles and coinsurance.”
• Recovery of the loved one from home, hospital or hospice and into the funeral home’s care at any time, on any day
A funeral requires a great deal of
• Metal casket
(BPT) — Food and gas prices continue to rise, on top of record-high housing costs in many cities across the U.S. If you’re an older adult who is already living on a tight budget, today’s inflation can be particular ly difficult. Fortunately, there are programs available that can help you save money on health care, prescrip tions, food, utilities and more.
• The Housing Choice Vouchers and Public Housing Programs, which can help with housing costs.
(BPT) — When a death occurs, it’s normal to wonder — and even worry — about the expense of memorial izing a loved one, even though we are grieving. The costs of goods and services are making headlines every day recently. But, like planning a wedding or building a house, funeral costs include many variables, and the options for memorialization are endless, so it’s difficult to determine an exact price until you meet with a funeral professional.
• Urn
• The Affordable Connectivity Program, which provides discounted internet services.
Millions of older adults are eligible for, but not enrolled in these pro grams. In fact, NCOA estimates that $30 billion in benefits go unused each year simply because older adults don’t know about these programs — or how to BenefitsCheckUp.orgapply. will give you a personalized list of benefits you may be eligible for and the steps you need to apply, including links to the correct government agencies and applications. Just a few minutes could save you money every month.
• Access to the funeral home’s amenities, including chapels, visitation rooms, reception areas and more
HELP FOR OLDER ADULTS ON A BUDGET MAY BE A FEW CLICKS AWAY
• Transportation of the loved one to the funeral home
• The Medicare Part D Low Income Subsidy and Medicare Savings Programs, which can help people with Medicare afford their out-ofpocket health care expenses.
• The Low-Income Home Energy Assistance Program, which can help you pay for home heating and cooling.
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effort to organize, but in a very short timeframe. Few would attempt to plan a wedding in less than a week, yet the very things that go into wed ding planning are all part of funerals: flowers, catering, music, transporta tion, venues, speeches, videos and event planning - not to mention completing paperwork for death certificates and obtaining permits for transportation, burial or cremation.
Funeral planning professionals are experts on helping you navigate your many choices. Will you want a traditional service, with a few mean ingful hymns and a message from clergy, or do you want to honor your loved one with a celebration of life over a catered meal? Are there special touches that reflect your loved one’s unique life that you would like to in corporate into their memorial? These decisions will all impact the cost of the funeral, but you can download a free funeral pricing guide to get started.Ofcourse, the best way to manage funeral or cremation costs is to preplan and pre-arrange your own final arrangements. Not only does this alleviate a financial burden for your loved ones during a time when they are grieving, it also locks in today’s pricing and ensures that your exact wishes are met.
According to a 2021 report by the National Funeral Directors Associ ation (NFDA), the national median cost of a traditional funeral with a viewing is $7,848, not including cemetery or burial charges, while the national median cost of an adult cremation funeral with a visitation is $5,365. Some of these costs include:
BEST TIME TO RETIRE
you retire. It might not seem like it matters much, but those contributions can turn into a sizable sum after another 20 to 30 years of compounding. Money invested when you’re in your 60s can help pay for end-of-life care in your 80s or 90s.
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Other things to consider
You’ll also want to think about how you’ll pay for healthcare costs during retirement. Many people neglect to account for medical expenses during their golden years, despite it being a significant cost for most people.
You might also consider maxing out your contributions to your retire ment accounts one last time before
Bottom line
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66 and 67 years old, to claim Social Security benefits, your payment will increase when you do start receiving benefits. But the increase in payments stops once you reach age 70, so if you turn 70 in the year you retire, you should wait until after your birthday to start receiving benefits. That helps reduce your taxes for that year and maximizes your payment, too.
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Here’s more information about Social Security benefits and how going back to work after you’ve retired can impact your payments.
If you participate in a defined ben efit plan, double check on exactly how long you have to work to get credit for an additional year of service. You won’t want to leave money on the ta ble just as you’re headed out the door.
Mike Hendrix
Choosing the best time of year to retire will depend on your specific cir cumstances. It’s important to remem ber that having a significant amount of earned income and drawing on retirement accounts could push you into a higher tax bracket. Don’t forget to account for income such as accrued vacation payouts or annual bonuses you may be entitled to.
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Mark Hendrix
