Introduction

Many older adults don’t realize just how many benefits, discounts, and programs are available to them. Whether you’re approaching retirement, already retired, or caring for an older loved one, it pays—literally—to know what’s out there.

Every year, billions of dollars in benefits for seniors go unclaimed. These include financial assistance, healthcare savings, tax breaks, transportation options, and everyday discounts. Missing out on them means leaving money on the table that could help you live more comfortably, securely, and independently.

In this article, we’ll walk you through many of the most important and valuable benefits for seniors. We’ll explain what they are, who qualifies, and how you can get them. Whether you’re 55, 65, 75, or older, you might be surprised at what’s available.

Why So Many Seniors Miss Out

Before we dive into the list, let’s ask: Why do people miss out on these benefits?

• Lack of awareness. Many programs are poorly advertised or buried in government websites.
• Complex applications. Paperwork can be confusing or intimidating.
• Assumptions about eligibility. People assume they make too much or too little to qualify.
• Pride or stigma. Some people don’t want to ask for help.
• Changing rules. Programs often update their criteria, meaning you might qualify now even if you didn’t before.

That’s why it’s so important to review what’s available and check your eligibility regularly.

1. Social Security Benefits

Retirement Benefit

You can start collecting Social Security retirement benefits as early as age 62. But if you claim that early, your monthly payments will be permanently lower. This reduction is because you’ll be getting payments for more years. Typically, your benefit can be about 25% to 30% less than if you waited until your full retirement age.

Full retirement age (often called FRA) is when you can get 100% of your Social Security benefit. It depends on when you were born. For people born between 1943 and 1954, FRA is 66. It rises gradually for those born between 1955 and 1959. For anyone born in 1960 or later, FRA is 67.

If you wait past your full retirement age to claim benefits, your monthly payment will increase. For every year you delay, up to age 70, your benefit grows by about 8%. This means you can get the highest possible monthly payment if you wait until 70. However, there’s no extra increase for waiting beyond 70.

In short, claiming early gives you smaller payments for a longer time, claiming at full retirement age gives you your full benefit, and waiting until 70 gives you the biggest monthly payment. Your choice depends on your needs, health, and how long you expect to live.

Tip: Use the Social Security Administration’s online calculators to see how timing affects your benefit.

Spousal and Survivor Benefits

Many people don’t realize they might qualify for spousal benefits through Social Security. Even if a spouse didn’t work enough on their own, they can claim up to 50% of their partner’s full retirement benefit. This can be a helpful way for couples to boost their overall retirement income.

Example: If John’s full benefit at his full retirement age is $2,000 per month, his spouse Mary could receive up to $1,000 per month in spousal benefits, even if she didn’t work much herself.

Divorced spouses may also qualify for spousal benefits if the marriage lasted at least 10 years. This rule can provide important support for people who spent years out of the workforce or earning less while married.

Survivor benefits are another key part of Social Security. Widows and widowers can start collecting survivor benefits as early as age 60, or age 50 if they are disabled. These benefits can help ease the financial burden after a partner passes away, offering ongoing income to help maintain stability.

2. Medicare and Extra Help Programs

When you turn 65, you usually qualify for Medicare, the federal health insurance program for older adults. It’s an important benefit that helps cover many medical costs as you age. But many people don’t fully understand what it covers, how the different parts work together, or what they might need to pay. Without knowing the details, it’s easy to miss out on important coverage or pay more than you should.

Medicare isn’t just one single plan—it’s made up of different parts that cover different types of care. Some parts are automatic if you qualify, while others require you to enroll and pay monthly premiums. Here’s a simple breakdown to help you see what each part does and how they fit together.

Standard Medicare

At 65, most Americans qualify for Medicare, the federal health insurance program for older adults. It’s a big help for covering health care costs in retirement, but many people don’t fully understand how it works or what the different parts mean. Medicare isn’t just one single plan—it has several parts, each covering different types of care.

Here’s a simple breakdown of the main parts of Medicare:

• Part A (Hospital Insurance): This covers hospital stays, skilled nursing facility care, hospice, and some home health services. It’s usually free if you (or your spouse) paid enough into Social Security during your working years.
• Part B (Medical Insurance): Covers doctor visits, outpatient care, preventive services, and some home health care. It has a monthly premium—about $174.70 in 2024, though it can vary based on your income.
• Part D (Prescription Drug Coverage): Helps pay for prescription medicines. Costs and coverage vary by plan, so you can choose a plan that fits your needs and budget.
• Medicare Advantage (Part C): These are private insurance plans approved by Medicare that bundle Parts A and B, and usually include Part D. Many plans also offer extra benefits like dental, vision, hearing, and wellness programs.

Understanding these parts can help you make better choices about your health care and avoid unexpected costs in retirement. If you’re nearing 65, it’s a good idea to review your options and figure out which coverage works best for you.

Extra Help with Prescription Costs

If you have limited income and resources, you might qualify for Medicare’s Extra Help program. This program is designed to make prescription drugs more affordable for people on Medicare who need a little extra support. Many people don’t realize they’re eligible and end up paying much more than they have to.

Extra Help can significantly reduce your costs for prescription coverage. It helps by:

• Lowering your Part D premium. You’ll pay less each month for your prescription drug plan.
• Reducing co-pays for prescriptions. Your out-of-pocket costs at the pharmacy will be much lower, making it easier to afford needed medications.

This program is especially valuable for people on a fixed income. Even a small savings each month can add up over time and help you stay on track with your treatments.

Eligibility Example (2024):

• Single: Income up to around $22,000 per year and resources up to about $16,600.
• Married: Income up to around $30,000 per year and resources up to about $33,000.

If you think you might qualify, it’s worth applying. Many people are surprised to find they’re eligible and can start saving right away.

State Medicare Savings Programs

Many states offer special programs to help low-income seniors pay for their Medicare costs. These Medicare Savings Programs can be a big help if you’re living on a tight budget. They’re designed to make sure that essential medical coverage stays affordable, even if you have limited income and resources.

These programs can help pay for:

• Part B premiums: Cover doctor visits and outpatient care.
• In some cases, it also covers deductibles and coinsurance, reducing what you pay out of pocket for medical services.

The exact rules and income limits for these programs can vary by state. That’s why it’s important to find out what’s available where you live.

For free, personalized help, you can talk to your State Health Insurance Assistance Program (SHIP). SHIP counselors can explain your options, help you apply, and make sure you’re getting all the benefits you qualify for. It’s a great resource to help you navigate Medicare and lower your healthcare costs.

3. Medicaid for Seniors

Medicaid isn’t just for younger, low-income people. Many older adults rely on Medicaid to help pay for costs that Medicare doesn’t cover. It can be a vital safety net for seniors with limited income and resources, helping them get the care they need without going broke.

Medicaid can help pay for things like:

• Long-term nursing home care. Medicare only covers short-term rehabilitation in a nursing facility, but Medicaid can pay for ongoing, long-term care.
• In-home care services. Helps seniors stay in their own homes by covering personal care and other supports.
• Prescription costs. Lowers out-of-pocket costs for needed medications.

Example:
A 78-year-old with limited income and assets may qualify for Medicaid to cover long-term care in a nursing home, which Medicare won’t pay for beyond short-term rehab stays. This can make the difference between affording needed care or not.

Even if you didn’t qualify for Medicaid at age 65, you might qualify at 75 if your finances have changed. It’s important to know that Medicaid eligibility rules vary by state. Don’t assume you’re ineligible—check your state’s rules and see if you qualify.

If you need help, your local State Health Insurance Assistance Program (SHIP) or Medicaid office can explain the rules and guide you through the application process.

4. Supplemental Security Income (SSI)

If you’re 65 or older—or disabled—and have very limited income and resources, you may qualify for Supplemental Security Income (SSI). SSI is a federal program that provides monthly payments to help meet basic needs for food, clothing, and shelter.

Many people don’t realize you can get SSI even if you already receive Social Security. These programs are separate, and qualifying for one doesn’t automatically exclude you from the other.

2024 Federal SSI Payment Amounts:

• About $943 per month for an individual.
• About $1,415 per month for a couple.

In addition to the federal payment, many states add extra money to SSI benefits, which can help even more with living expenses.

Common mistake: Don’t assume that getting Social Security retirement or disability benefits means you can’t get SSI. If your income and assets are low enough, you can receive both payments, helping you better cover your basic living costs.

It’s a good idea to apply or talk to your local Social Security office for guidance. They can explain the rules, help you understand what counts as income or resources, and walk you through the application process.

5. Veterans’ Benefits

If you’re a veteran, you may qualify for a range of benefits that can make life in retirement easier and more affordable. These programs are designed to thank you for your service and help cover important needs as you age.

Here are some key benefits veterans can access:

• VA health care: Comprehensive medical care through the Veterans Health Administration, often with no monthly premiums. This can cover doctor visits, hospital stays, prescriptions, and more.
• Aid & Attendance: Extra monthly payments for veterans who need help with daily activities like bathing, dressing, or eating.
• Pension programs: Monthly income for certain wartime veterans with low income and limited assets.
• Home loans: VA-backed loans with favorable terms to buy, build, or improve a home.
• Burial benefits: Assistance with funeral costs and burial in a national cemetery.

Example:
A Vietnam veteran in his 70s who needs help with bathing and dressing could qualify for Aid & Attendance payments of over $1,300 per month in addition to other VA benefits. This extra support can help pay for in-home care or assisted living.

Tip: Don’t try to navigate these benefits alone. Contact your local VA office or a Veterans Service Organization (VSO) for free help applying. They can explain what you qualify for, help with paperwork, and make sure you get the benefits you’ve earned.

6. Food Assistance

Many seniors skip applying for food benefits because they think they don’t qualify or the process is too complicated. But the Supplemental Nutrition Assistance Program (SNAP) helps millions of older adults buy healthy food every month.

SNAP provides a monthly benefit that you can use to buy groceries. It’s meant to make sure seniors can afford enough nutritious food to stay healthy.

• Monthly benefits vary based on your income, expenses, and household size.
• SNAP can be used at most grocery stores and even at some farmer’s markets for fresh fruits and vegetables.

Some states have simplified applications for seniors, making it easier to qualify and apply. It’s worth checking with your local SNAP office or Area Agency on Aging to see what options are available in your state.

7. Utility Bill Help

Paying for heating and cooling can be tough on a fixed income, especially for seniors. As energy costs go up, it can take a big chunk out of a monthly budget. Many older adults worry about how they’ll afford to keep their home warm in winter or cool in summer without cutting back on other important things like food or medicine.

The good news is that many utility companies and state programs understand these challenges and offer special programs to help older adults save money. These programs are designed to make sure seniors can stay safe and comfortable in their homes, even during extreme heat or cold, without having to sacrifice other basic needs.

By taking advantage of these programs, seniors can get help paying their energy bills, avoid shutoffs, and reduce the stress that comes from choosing between staying warm and other essential expenses.

These programs can include:

• Senior discounts: Special rates or percentage discounts for older adults.
• Low-Income Home Energy Assistance Program (LIHEAP): Grants that help pay for heating or cooling costs, especially during extreme weather.
• One-time or ongoing discounts: Some programs offer a single payment toward your bill, while others reduce your monthly costs year-round.

If you need help, contact your utility company to ask about senior discounts or payment assistance programs. You can also reach out to your local community action agency for guidance on applying for LIHEAP or other energy assistance programs in your area.

These programs are there to help you stay comfortable and safe in your home without breaking your budget.

8. Property Tax Relief

Property taxes can be a big burden for seniors living on a fixed income. The good news is that many states and local governments offer property tax relief programs to help older adults stay in their homes and keep costs manageable.

These programs can include:

• Tax deferrals: Let you postpone paying part or all of your property taxes until you sell your home or pass away.
• Rebates: Refund part of the property taxes you’ve already paid, putting money back in your pocket.
• Exemptions: Reduce the taxable value of your home so you owe less in property taxes each year.
• “Circuit breaker” programs: Limit how much of your income can go toward property taxes, so you don’t pay more than you can afford.

Eligibility for these programs usually depends on age and income. Some are designed specifically for people 65 and older, while others have income limits to target help to those who need it most.

If you own a home, it’s worth checking with your local tax office or state department of revenue to see what property tax relief options are available in your area. A little research could lead to significant savings each year, helping you stay in your home longer and keep more of your income for other needs.

9. Transportation Discounts

Getting around can be a big expense, but many communities offer transportation discounts to help older adults save money and stay mobile. These discounts make it easier for seniors to get to doctor’s appointments, shop for groceries, visit friends, or simply enjoy getting out and about.

Older adults often qualify for reduced fares on:

• City buses: Many local transit agencies offer half-price or even free rides for seniors.
• Subways: Big cities frequently provide discounted senior passes for unlimited monthly rides.
• Regional trains: Discounts on commuter or intercity trains make longer trips more affordable.
• Taxis (in some places): Some cities have special programs that give vouchers or reduced rates for senior riders.

To find savings on transportation, check with your local bus, train, or transit provider. They can share details about senior discounts, how to enroll, and any ID or passes you might need. These discounts help older adults get around more easily, stay social, and enjoy their community—all while keeping transportation costs affordable.

10. Housing Assistance

Safe, affordable housing is essential for older adults, but it can be hard to afford on a fixed income. Luckily, there are housing assistance programs designed to help seniors find or keep a stable home.

These programs include:

• Section 202: Provides affordable housing specifically for very low-income seniors. These apartments often have features like grab bars and accessible designs, along with on-site support services.
• Housing Choice Vouchers (Section 8): Help pay for private rentals, making it easier to afford safe, decent housing in your community. Rent is usually based on your income, so you pay only what you can afford.
• USDA Rural Housing: Offers loans and grants for seniors living in rural areas to make needed home repairs, like fixing roofs, heating systems, or making homes more accessible.

These programs can make a big difference by lowering housing costs, improving safety, and helping seniors stay in their own communities. Contact your local housing authority or Area Agency on Aging. They can explain what programs are available in your area and help you apply.

For more ways to tap into the value of your home, check out our blog on Unlocking Home Equity for Seniors.

11. Senior Discounts on Everyday Purchases

Many businesses offer special discounts for seniors, helping you stretch your budget and save money on the things you buy every day. These discounts can make a real difference if you’re living on a fixed income, letting you afford more without cutting back on essentials.

They’re often easy to get—sometimes all you need to do is ask at the register or show your ID to prove your age. Some stores or restaurants even have special days of the week when seniors get extra savings. Taking advantage of these deals is a simple way to make your money go further and enjoy the things you need and love without spending as much.

Here are some common places where you can find senior savings:

• Pharmacies: Stores like Walgreens and CVS often have special discount days or loyalty programs just for seniors.
• Grocery Stores: Many local and chain grocery stores offer senior discount days with a percentage off your total bill.
• Restaurants: Popular spots like Denny’s, IHOP, and others offer discounted meals or special senior menus.
• Retail Stores: Places like Kohl’s, Ross, and Goodwill frequently provide senior discounts on clothing, home goods, and other items.
• Travel: Companies like Amtrak, Greyhound, and some airlines offer reduced fares for seniors, making trips more affordable.

Don’t be shy about asking if a store or service has a senior discount. These small savings can add up over time, helping you keep more money in your pocket while enjoying the things you need and love.

12. Tax Breaks for Seniors

Many older adults don’t realize there are special tax breaks that can help them keep more of their money at tax time. These benefits are designed to make life a little easier for people on fixed incomes and help seniors better manage their expenses.

Here are some common tax benefits for people 65 and older:

• Higher standard deduction: If you’re 65 or older, you qualify for a larger standard deduction on your federal tax return. This reduces your taxable income, meaning you might owe less in taxes or even get a bigger refund.
• Exclusions on some retirement income: Depending on your state, you might not have to pay state income tax on certain types of retirement income, like Social Security benefits or pension payments. Rules vary, so it’s good to check your state’s guidelines.
• Property tax relief: As mentioned above, many states and local governments offer property tax exemptions, rebates, or deferrals for seniors, helping you save on one of the biggest household expenses.

13. Free or Low-Cost Legal Help

Legal problems can be stressful and expensive, but many states fund legal aid organizations that offer free or low-cost help to older adults. These services are designed to protect seniors’ rights and help them navigate complicated issues without high attorney fees.

Legal aid programs often specialize in issues that many seniors face, such as:

• Evictions: Help with fighting unfair evictions or negotiating with landlords to stay in your home.
• Benefit appeals: Assistance if you’ve been denied Social Security, Medicare, Medicaid, or other benefits you need.
• Advance directives: Help with creating legal documents like living wills or powers of attorney to make sure your wishes are followed if you can’t speak for yourself.
• Guardianship concerns: Advice and representation if you’re involved in a guardianship case, whether you need to establish one or challenge one.

Contact your local legal aid office or Area Agency on Aging. They can help you find lawyers who understand senior issues and often provide free or affordable services, so you can manage important legal matters with peace of mind.

14. Local Senior Centers and Agencies on Aging

Your local Area Agency on Aging (AAA) or senior center is one of the best places to start if you’re looking for help, resources, or community connections. These organizations are dedicated to supporting older adults in many aspects of daily life. They understand the unique challenges seniors face and work to make life easier, healthier, safer, and more social.

Whether you need help applying for benefits, finding reliable transportation, getting nutritious meals, or simply connecting with others to reduce loneliness, these agencies are there to help. They bring together many services under one roof and can point you in the right direction, making it much simpler to get the support you need to age well in your community.

If you’re not sure where to begin, contact your local AAA or senior center. They can help you understand what’s available in your community and connect you with the services that best fit your needs. These centers are a welcoming, trusted resource for seniors and their families, offering personalized guidance and support to make daily life more manageable and fulfilling.

They often offer a wide range of services, including:

• Free benefits counseling: Help understanding and applying for programs like Medicare, Medicaid, SNAP, and more.
• Help applying for programs: Guidance on paperwork and eligibility for local, state, and federal assistance.
• Meals on Wheels: Nutritious meals delivered to your home if you can’t easily shop or cook.
• Transportation: Low-cost or free rides to medical appointments, grocery stores, or senior centers.
• Social events to reduce isolation: Activities, classes, and gatherings that help seniors stay active, connected, and engaged.

15. Other Programs to Explore

Beyond the big federal and state programs, there are local and community services that can make life easier, safer, and more connected for seniors. These programs offer extra help that supports daily living, promotes independence, and reduces isolation. They’re often run by local agencies or nonprofits and can be an important resource for seniors who want to stay in their homes and stay engaged in their community. If you’re interested in these services, check with your local senior center, Area Agency on Aging, or community organizations. They can help you find out what’s available in your area and guide you through signing up. These programs are designed to support seniors in living independently, comfortably, and staying connected to their community.

Here are a few valuable programs to know about:

• Meals on Wheels: Delivers hot, nutritious meals directly to the homes of seniors who can’t easily shop or cook for themselves. This service also provides a friendly check-in, helping reduce isolation and ensure well-being.
• Senior Companions: Volunteers visit seniors to provide friendship, help with small errands, and offer emotional support. These visits can make a big difference in reducing loneliness and helping with daily tasks.
• Low-Cost Internet: Programs like the Affordable Connectivity Program help seniors stay connected by offering discounted internet service. This makes it easier to keep in touch with family and friends, access health care through telehealth, and manage finances online.

How to Get Started

Feeling overwhelmed? Don’t worry—you don’t have to figure it all out at once. Taking it step by step can make the process much easier. Here’s how to begin:

1. List your needs. Think about what kind of help you’re looking for. Do you need support with healthcare costs, food, housing, utilities, or something else? Making a list can help you focus on what’s most important.
2. Gather documents. Be ready with basic paperwork you’ll need to apply for most programs. This usually includes proof of income, an ID, and your Social Security number. Having these ready can speed up the process.
3. Contact local resources. Reach out to your Area Agency on Aging (AAA), State Health Insurance Assistance Program (SHIP), or local community action agency. They know about the programs in your area and can guide you through applying.
4. Use online tools. Websites can help you check eligibility and find programs:
   • BenefitsCheckUp.org
   • SSA.gov
   • Medicare.gov
5. Ask for help. Don’t let paperwork or confusion stop you. These programs exist to help you. Family members, friends, or local agencies can often help you fill out forms or understand what you need to do next.

Conclusion

Growing older comes with its share of challenges, but it also opens the door to many benefits and programs designed to help you live with dignity, security, and comfort. These resources exist to support your health, finances, and overall well-being, making daily life a little easier.

Don’t let a lack of awareness, confusing applications, or old assumptions hold you back from getting the help you deserve. Many seniors miss out on valuable benefits simply because they don’t know what’s available or think they won’t qualify.

Take time to check out these programs—whether it’s for yourself or an older loved one. You might be surprised at how much you can save or how much easier and more secure life can be with just a little extra help. A few small steps today can make a big difference in your quality of life for years to come.