![]() ![]() The income limits vary by state but total resources, defined as all "things you own (such as cash or money in a bank account)" cannot surpass "households may have $2,250 in resources or $3,500 if at least one person is age 60 or older, or is disabled." ![]() Supplemental Nutritional Assitance Program (SNAP) benefits are available to Social Security beneficiaries that live in a household with a gross income or resources under a certain level. However, other federal programs may be able to support seniors who are struggling to make ends meet on their fixed income. Ways increase the amount of Social Security benefits for retireesįor those who are retired, there are not many ways to increase their Social Security benefit amount. Fed announces beginning of end for pandemic stimulus.Will a new stimulus check happen in November 2021?.How will the impressive jobs report affect federal spending?.House approves $500 billion Bipartisan Infrastructure package.However, still in 2019, the Congressional Research Service found that more than 4.9 million seniors were living below the poverty line. Since the implementation of the Social Security program, the number of seniors living in poverty has decreased from around 30 to 8.9 percent. The Senior Citizens League reported just before the COLA announcement that they had heard reports from seniors that they were forced to cut back on meals and forgo prescription refills because their Social Security benefits were not lasting them through the month. This increase represents the yearly cost-of-living adjustment (COLA) and is larger than in past years because of price increases for many consumer goods across the economy. The Social Security Administration (SSA) announced in mid-October that starting in December 2021, beneficiaries will see a 5.9 percent boost in their checks. ![]()
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