There’s been a lot of chatter recently about a $3,000 senior assistance program. However, blogs and websites promising the funds don’t actually provide any legitimate info or links to government programs. So what’s really going on, and why are people talking about seniors getting free money?
In reality, seniors can access thousands of dollars in assistance, but these funds don’t come from any single program. Instead, this figure refers to a collection of benefits and programs that you may qualify for if you’re at least 50 years old.
If you’re eligible for Social Security Income, you may automatically qualify for additional financial assistance as a senior, and when combined, the total benefits you can receive may exceed $3,000 per month.
For example, if you retire in 2024 at full retirement age, the maximum benefit you can receive is $3,822 per month. If you retire in 2024 at age 70, the maximum benefit you can get is $4,873 per month.
Other senior assistance programs you may be eligible for include:
Supplemental Security Income (SSI): SSI can provide an individual or couple with a maximum cash payment of $943 or $1,415 a month.
Medicare or Medicaid: These programs can each help you cover large sums of healthcare-related services and costs.
Extra Help: The Extra Help program assists older Americans in paying for premiums, copays, and deductibles, providing up to $5,300 per year for those who qualify.
If you’re over 50, you may qualify for several other specific benefits through senior assistance programs, such as PACE, HCVP, SFMNP, and more. Visit TurboDebt.com to read helpful articles related to specific senior benefit programs.
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