July 22, 2013

Six Benefits All Seniors Should Be Taking Advantage Of

Filed under: Boomer,Retirement,Seniors — seniorlivingguide @ 8:41 am

Courtesy of Jayla Barnsen [jaylabarnsen@gmail.com]

Though getting older takes a number of adjustments, rx there are some compensations. Seniors are eligible for a variety of benefits and reduced prices options that can provide a comfortable income for them and save them money throughout the year. Seniors should stay alert to benefits that are available to them and take advantage of these perks to getting older.

1– Social Security

Social Security is a system of retirement benefits in the United States that accrue to people who have paid into the system over the course of their work lives. Seniors are eligible to receive these benefits from the age of 62, but it is often to their advantage to delay receiving benefits until a later time to receive full benefits. Seniors should research the issue carefully before enrolling for their benefits.

2– Medicare

In the United States, Medicare provides healthcare payments for people over the age of 65. These benefits make healthcare affordable for a population that is vulnerable to a number of health problems. Enrollment begins a few months before you 65th birthday. A number of supplemental plans are available that can help seniors pay for prescription drugs or out-of-pocket expenses not covered by basic Medicare.

3– Energy ProgramsSix Benefits All Seniors Should Be Taking Advantage Of

In many areas of the country, energy costs can eat up a considerable amount of the monthly budget. Many cities offer energy support programs for seniors who may not be able to afford their normal heating and cooling bills.

4– Transportation Discounts

Most communities offer discounts for senior for buses, subways and other public transportation methods. If you prefer to keep your car, check with your insurance company for “good driver” or “senior driver” discounts that can help you stretch your income further.

5– Entertainment Discounts

Look for senior discounts offered by theaters, sports venues, concerts and community events. These discounts can save you significant amounts of money over the year.

6– FERS Disability Retirement Benefits

The Federal Employees Retirement System, or FERS, offers disability benefits to employees who have worked in a qualifying position for at least 18 months and who are no longer able to perform alternate duties for an agency. To qualify for FERS Disability retirement benefits, you must have a disability that will last for at least one year. FERS disability benefits can only be applied for if you have also applied for Social Security disability. If disability benefits have been received before the age of 62, the amount must be re-computed after the person reaches that age.


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