There are
many ways to get cheap or free services and goods after reaching a certain age.
Melissa Neiman • January 14,
2022
Growing older has its
advantages. As time passes, you get a little wiser. After retiring, you have
more free time to channel that wisdom into doing the things you enjoy.
Even better, all that fun
often can be had at a steep discount. There are many ways for seniors to get
cheap — and even free — entertainment and services.
Some of these offers are
available based on age or income, while others are open to everyone — even
those who have yet to reach their golden years.
Following are some things
seniors can get for almost nothing.
Checking
accounts
Some banks offer checking
accounts with special perks — such as free checks and no maintenance fees —
just for retirees.
We detailed several
examples of these accounts that are available at both traditional and online
banks as well as credit unions in “6 Bank Accounts
With Extra Perks for Older Customers.”
Tax
help
Few of us enjoy tax time.
Tax laws are complex, leading to headaches and worries for many people who take
a DIY approach to filing.
If you’d prefer to avoid
that worry during retirement, consider turning to the federal
government’s free Tax Counseling
for the Elderly (TCE) program.
It offers help for older
taxpayers, particularly those age 60 and above, with specialized assistance on
questions regarding pensions and other retirement-related issues.
Medicare
assistance
As with taxes — or,
frankly, anything else attached to the federal government — Medicare can be
overwhelmingly complicated.
If you are lost at sea
trying to navigate this federal health insurance program primarily for seniors,
consider turning to your State Health Insurance Assistance Program (SHIP).
As we detail in “14 Things That Are
‘Free’ With Medicare,” SHIP offices provide complimentary health
insurance benefit counseling for Medicare beneficiaries and their families or
caregivers.
Prescription
drugs
Many seniors take a
handful of prescription medications every day to keep disease at bay. The cost
of such drugs can be high, so every bit of savings helps.
Medicare Part D coverage
and most Medicare Advantage plans cover some prescription drug costs for
seniors. But if you don’t qualify for Medicare or are simply looking for more
opportunities to cut drug costs, see if you’re eligible for any prescription
assistance programs.
You can learn more about
them through these organizations and websites:
·
RxAssist
For more savings tactics
available to people of any age or income level, check out:
·
“5 Websites You
Should Check Before Buying Prescriptions“
·
“4 Pharmacy Chains
That Offer Free Prescription Drugs“
Medical
services
While Medicare plans can
vary as to what they cover and what they cost, all Medicare plans must cover
certain medical services and other expenses. In fact, all plans must cover certain
services in full — meaning people on Medicare pay no additional cost for those
services.
These “freebies”
include annual wellness visits, flu shots and certain other
vaccines, and screenings such as a colonoscopy, for example.
Food
and drinks at restaurants
Olesya Kuznetsova /
Shutterstock.com
Scoring free food and
beverages at restaurants can be tricky. Some restaurant chains offer senior
freebies on a by-location basis. Others tend to be a bit tight-lipped about
their price breaks.
We detail some in “13 Senior Discounts
for Anyone Age 55 or Older,” but the best way to discover these
hidden freebies and discounts is to simply ask when you order.
Also, if you join a
senior membership organization such as AARP, you’ll be entitled to a host of
discounts at restaurants, among other places. Joining is not free, but the
money you save from taking advantage of those discounts could easily exceed the
cost of the membership.
Store
discounts
It’s not just restaurants
that offer “senior” discounts to people as young as age 50. Shop at the right
retailers, and you can boost your savings considerably just by
showing proof of your age.
Education
It’s never too late to
learn. Many colleges and universities offer free or heavily discounted classes
to seniors.
Some of these programs
are especially outstanding values, offering tuition-free courses for credit to
people age 60 or older, as we illustrate in “10 Colleges That
Offer Free Tuition for Seniors.” Theoretically, you could pursue a
free degree this way.
Many other universities
let seniors audit classes for free. This means they get all the education but,
alas, do not receive credits toward a degree.
Tax
breaks
Retirees often are
eligible for federal income tax breaks, such as tax deductions and even tax
credits — although many retirees
overlook these opportunities to lower their tax bill.
For example, people age
65 and older who do not itemize their tax deductions generally are eligible for
a larger standard
deduction than younger taxpayers. That translates to a free
reduction in the federal tax bill of eligible seniors.
Public
transportation
As we age, getting around
can become a challenge. Eyesight and other physical issues might prevent us
from driving, and taxi and ride-sharing services can be too expensive for
anyone on a fixed income.
Luckily, many communities
— such as Florida’s Miami-Dade County —
offer free transportation options to seniors. So, check with your city, county
or state to find out if it offers a similar service.
Vacation
discounts
Free public
transportation is just one example of the types of travel discounts that you
can score after a certain age.
If you’re 50 or older,
you are likely eligible for price breaks on everything from rental cars to cruise ships —
not to mention hotel rooms.
Gym
membership
You may be able to get a
discounted or free gym membership through your health insurer, particularly if
you’re 65 or older.
Some insurance
plans offer savings on
fitness club memberships as preventive care.
Some Medicare plans come
with a SilverSneakers membership, which gives eligible seniors access to
thousands of gym and fitness center locations across the country.
Contact your insurance
plan to find out if it offers SilverSneakers, or fill out the
eligibility form at the SilverSneakers website.
Internet
service
If you use the internet
for the basics — such as emailing friends and family, and occasionally surfing
the web — there are options that can get you online for free.
For example, Juno offers 10
hours of free dial-up service each month. NetZero offers a
similar package of 10 free hours.
To step up to broadband
coverage, check out Consumer Action’s
list of providers that offer lower-cost options to low-income
households.
Create
your financial plan with an adviser
Whether it’s making smart
investments or securing a comfortable retirement, the right financial
adviser can assist you in creating a financial strategy. A
great place to start is with SmartAsset’s free tool, which connects you with up
to three fiduciary
financial advisers in five minutes. Each adviser is vetted by
SmartAsset and is legally required to act in your best interests.
If you’d like to be
matched with local fiduciary advisers who can help you reach your financial
goals, get started now.
Disclosure: The
information you read here is always objective. However, we sometimes receive
compensation when you click links within our stories.
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