I know it’s hard to believe, even when it’s coming from a trusted source like me, that there is FREE money available, just waiting to be given away to U.S. citizens. It sounds too good to be true doesn’t it?

The truth is the U.S. government sets aside billions of dollars each year to give away to its citizens. 2014 is no different. In fact it’s probably the BEST time in decades in terms of access to these funds. For 2014 the U.S. government has set aside more than $1 trillion in funds to giveaway to its citizens.

No matter what you’ve heard over the last several months about budget deficits, sequesters, government loan defaults, that money isn’t going anywhere. The government has committed those funds to be distributed to its citizens in the forms of federal aid, state assistance, government programs, and grants.

Sadly most people who are eligible don’t even know that these programs and grants exist, let alone apply for them. Even the ones that do know about them mistakenly believe they have to be destitute or in terrible financial shape to receive money from the government or through grants.

That’s why most ordinary people miss out – and let the tiny handful of people “in the know” collect free money while they struggle through their golden years. But it doesn’t have to be like that anymore.

Recently I uncovered some information about a handful of these government giveaways. The only challenge is deciding which ones you most want to apply for as you can’t apply for them all.

Healthcare

Obviously we’ve all heard about Medicare and Medicaid, the government programs that help us with your health care costs as we age. But most people haven’t heard of the other government health care assistance program called PACE (Programs for All-Inclusive Care for the Elderly).

PACE is for people who are frail and need assistance but can be kept out of nursing homes with a little extra help. It provides funding for personal care, socialization, medication, rehabilitation, medical care, transportation to and from doctors’ appointments, dentistry, adult day care, lab fees, meal deliveries, physical therapy and more.

To be eligible you have to be 55 or older and live in a community with access to PACE medical centers. Not every state has one of these centers so it’s important to find the closest center to you.

Eating a nutritious diet can go a long ways towards keeping your health care costs in check. That’s why the government created SNAP (Supplemental Nutrition Assistance Program) to help lower income Americans buy nutritious food each month. There are income restrictions to apply, however, if you are age 60 or older those restrictions become a lot looser.

Prescription Drug Programs

Most pharmaceutical companies offer patient assistance programs that provide free prescription medication and drugs. Even if you have a moderate income you may still qualify for free or discounted medication. To find out if your medication is one of the ones eligible do an internet search for the manufacturer. Then go directly to their website and find the link to their specific patient assistance program. I know for sure that Abbott, Eli Lilly, GlaxoSmithKline, Johnson and Johnson, Merck and Pfizer all have such programs.

If you don’t qualify for one of their programs check out the Robert Wood Johnson Foundation. This organization gives out grants to individuals and organizations that help improve the health of American citizens. You’ll have to fill out an application, but the time it takes is totally worth it if you can knock off several thousand dollars a year from your health care bills.

Housing

The government understands just how badly senior citizens want to stay in their homes as they age.  But they know that is not always the easiest thing to do. So they set up several assistance programs to help out.

If your home needs repairs to be safe or more comfortable as you age the government will give you money to do so. The more specific you are about the type of repair needed to make your home better for your needs, the more likely you are to receive funding.

Even if you don’t own your home you can receive monetary assistance. Citizens who rent homes or apartments can apply for aid from the U.S. Government as well as other state and local agencies here.

There are even programs to help citizens with their utility bills. LIHEAP (Low-Income Home Energy Assistance Program) was created to help people who run into difficult times financially come through to the other side without going into debt.

Also, most utility companies, such as your water, garbage, telephone and cable providers, offer discounts for seniors and the disabled. Call up your provider and ask for more information on their assistance programs. You may have to answer a few questions or fill out an application but the savings is worth the extra effort!

Business Grants

The assistance program that receives the most funding by far is for senior citizens who wish to expand or start up their own business. The government understands that small businesses are essential to a healthy economy. As a result they have created numerous programs that help entrepreneurs with business related expenses like loan repayments, start-up expenses, salaries, overhead costs, acquisition costs, equipment purchasing, employee training, rent payments and free consulting services.

Tax Breaks

The IRS also provides numerous deductions and write-offs for the elderly to help them out financially.

•    Higher standard deduction amount for most people who don’t itemize deductions if they and/or their spouse are over 65 or blind.

•    An additional tax credit called the Credit for the Elderly or the Disabled for lower-income people who are over 65 or disabled and file a 1040 or 1040A tax form. (For full details and eligibility, see IRS Publication 524.

•    Free tax return preparation assistance and counseling from IRS-trained volunteers is available to those over age 60, as well as low-to-moderate income people and military families.

•    IRS Publication 554 provides help for seniors to prepare their tax returns.

Social Security

Long time readers may remember my post about how those who are eligible for social security can use 100% legal loopholes to net themselves an extra $1,000 a month courtesy of Uncle Sam. In fact there are 5 totally legitimate loopholes that everyone can use to make more money each month from Social Security. The government doesn’t publicize these tricks because it would cost them too much money if everyone who is eligible took advantage of them, but they’ll honor anyone who participates.

It’s sad to think of all the great people of this nation struggling to pay their bills. If you are young, you have decades upon decades to build back up an income stream and pay off debt. The older you are the harder that is to do. Employers don’t want to hire older workers and the stock market doesn’t give them time to make back any money they’ve lost. It’s so important to get the word out to our nations most needy so they don’t have to struggle unnecessarily. Please pass this letter onto anyone you know who could use a few thousand extra dollars a month in their pocket, especially if they are over 55.

Keeping Money in Your Pocket,

Nancy Patterson