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Retirement: Resources to cover $1,000s in bills

Millions of Americans are living in retirement, but many find it hard to get by as inflation continues to hurt those living on fixed incomes.

retirement graphic

Seniors in retirement often have additional expenses, like medication and healthcare.

As inflation continues, many are struggling to handle the costs.

Social Security checks are designed to cover 40% of someone’s previous salary.

After a 5.9% COLA increase, seniors are still finding themselves struggling following an inflation increase of over 8%.

Here are 5 resources to help you make ends meet in retirement

Food stamps are a major benefit if you qualify.

SNAP is available to those in retirement if you meet the income requirements.

What you get depends on your household size, but a household of one will get a maximum of $250.

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There is also the commodity supplemental food program.

This is run by the USDA and allows states to manage benefits, not the federal government.

You must be 60 or older to qualify.

There’s a service called Mom’s Meals, a private food delivery company who helps those in Medicare Advantage plans, Medicaid plans, Long-Term Services and Supports (LTSS) programs or the Older Americans Act.

There is a program that also let’s seniors pay for their meals at $7.99 per meal.

Contact your Medicare or Medicaid representative to see if you qualify.

In addition to these programs is the Medicare Savings Program.

You can get help with premiums, deductibles, copays, and prescriptions.

Sometimes these costs will be covered in full.

Call your Medicaid program to learn more.

Finally, Extra Help is a program for those enrolled in Medicare Part D.

This benefits people with medication costs by up to $5,000 per year.

If you qualify, you won’t need to pay a late enrollment fee when enrolling in a Medicare medication program.

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