Retirement is supposed to be financially stable – but for many retirees, especially those on Social Security alone, the costs of healthcare, housing, and daily living can quickly exceed income. A range of benefit programs exist specifically for people in retirement, and many go unclaimed simply because retirees don’t know they’re eligible.
Social Security Retirement Benefits
Social Security is the foundation of most Americans’ retirement income. If you haven’t yet claimed, the timing matters significantly – benefits increase about 8% for each year you delay past your full retirement age, up to age 70.
If you’re already receiving benefits and your income is limited, you may qualify for additional programs that stack on top of Social Security to help cover your costs.
Medicare and Medicare Savings Programs
Medicare covers hospital care, doctor visits, and prescription drugs for most Americans 65 and older. But premiums, deductibles, and copays can still add up on a fixed income.
Medicare Savings Programs (MSPs) help pay Medicare costs for low-income beneficiaries. The most comprehensive level – the Qualified Medicare Beneficiary (QMB) program – pays your Part A and Part B premiums, deductibles, and coinsurance entirely. Income limits are approximately $1,275/month for individuals in 2026. Apply through your state Medicaid office.
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Extra Help With Prescription Costs
Extra Help (Low Income Subsidy) pays most Medicare Part D drug costs for qualifying retirees – saving an average of $5,300 per year. Copays for covered drugs are capped at a few dollars. Income limit is about $22,590/year for individuals. Apply at ssa.gov or call 1-800-772-1213.
SNAP for Retirees
Many retirees on limited incomes qualify for SNAP food benefits but never apply. The process is simpler for households with only elderly members – no work requirements, and asset rules are more lenient. Benefits average around $200/month per person and are usable at most grocery stores, including for online orders.
Supplemental Security Income (SSI)
If your Social Security benefit is very low, you may also qualify for SSI – a separate needs-based program for people 65+ with limited income and assets. SSI can supplement your Social Security payment up to $967/month for individuals (2026), and qualifying for SSI usually brings Medicaid eligibility.
Help With Utility Bills
The Low Income Home Energy Assistance Program (LIHEAP) prioritizes elderly households. It helps cover heating and cooling costs and can be combined with other assistance. Contact your local community action agency or apply through your state’s LIHEAP office.
Property Tax Relief
Most states offer property tax relief for homeowners over 65, including exemptions, credits, assessment freezes, and deferral programs. Benefits can reduce your annual bill by hundreds or thousands of dollars. Contact your local county assessor or state revenue department for details.
Senior Nutrition Programs
Beyond SNAP, dedicated senior nutrition programs include Meals on Wheels (home-delivered meals for homebound seniors), the Commodity Supplemental Food Program (monthly USDA food boxes for seniors 60+), and the Senior Farmers’ Market Nutrition Program. Contact your local Area Agency on Aging at eldercare.acl.gov to find what’s available near you.
Find Everything You Qualify For
See all programs you may be eligible for.
Use the Benefits Finder tool to check Medicare savings, food assistance, utility help, and more – based on your situation.
Money Instructor does not provide tax, legal, or investment advice. This material has been prepared for educational and informational purposes only. Program eligibility and benefit amounts change annually. Verify current details with SSA.gov, Medicare.gov, or your state agency.