Older adults might not realize the billions of dollars in government aid they don’t use every year. The money they could have received might have paid for healthcare, utilities, rent, groceries, and prescriptions. Financial assistance is vital for many low-income seniors, especially when inflation is high.
Consumers often pay more than they have to for items such as prescription drugs and food. They forget about the federally funded programs they can turn to for help. Looking into benefit programs you might qualify for if you struggle to afford everyday expenses is crucial.
Underused SNAP Benefits
The Supplemental Nutrition Assistance Program (SNAP), formerly called food stamps, is a federal program eligible individuals can use monthly to buy groceries at participating farmer’s markets and grocery stores.
In 2018, approximately 26 million adults 50 years of age and older were eligible for SNAP. However, 63 percent of these individuals didn’t use the available benefits. Since then, the numbers haven’t improved that much.
The problem is many think SNAP assists children and other people. If someone believes they’re not eligible, they won’t bother applying. About $6 billion in benefits for qualifying older adults goes unused every year.
Assistance with Medical Care
The rising costs of healthcare make budgeting for medical expenses challenging. The federal government operates the Medicare Savings Program, assisting older adults with medical costs.
The program pays the deductibles, copayments, and coinsurance for Part A and Part B coverage. You can save over $2,000 annually with this program. However, more than three million people 65 and older haven’t enrolled. Around $2.5 billion to $6 billion in benefits go unused annually.
Prescription Drug Coverage
The Low-Income Subsidy for Medicare Prescription Drug Coverage, also known as Extra Help, is another underused program. It covers annual deductibles, copayments, and monthly premiums for prescription drugs through Medicare.
Eligible participants can utilize around $5,100 each year. However, the chief customer officer at the National Council on Aging (NCOA) discovered approximately $7.6 billion is left unused yearly.
How Some Programs Can Help Pay Your Utilities
Older adults throughout the country aren’t using the Low-Income Home Energy Assistance Program (LIHEAP). Only 17 percent of eligible individuals apply for assistance. The federal program provides recipients with a one-time payment for heating costs during the winter months. The average amount is $500 but could be as high as $1,400.
Contact Our Tampa Elder Attorneys for Guidance
The government and various nonprofit organizations work with local communities so older adults can find and apply for financial assistance. You might qualify for benefits you didn’t know existed by contacting different agencies online or by phone.
You should contact a Tampa elder attorney immediately for help. We can advise you about your available options for receiving benefits for your medical care, living expenses, and other necessary costs. If you need assistance, simply call us at (813) 438-8503 and we’d be happy to connect you with the people in our community who can help your family.