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When Social Security is a Retiree's Only Source of Income - MSN - Finance Buzz Money
Sometimes life doesn't allow everyone to save enough to offset their Social Security benefits in retirement, especially when retirement isn't by choice. It can be due to job loss, disability, or even divorce.
The average Social Security benefit in 2026 is only $2,071. After a $202.90 reduction for Medicare Part B, this can create a very tight budget if it is your only source of income.
State and federal programs may be available to help you. However, living on Social Security alone does not guarantee you will qualify for additional help, but it never hurts to check. If you do not have a My Social Security Account online, you may want to consider setting one up. It helps you track your current benefit amount and COLA notices, which many of these programs will ask for during the application process.
The SSA, CMS, and USDA offer free screening tools to help you check your eligibility all at once, rather than applying for each program separately. Chris Lewis has written an article listing seven programs you may qualify for.
1) Extra Help with Medicare Prescription Drug Cost
- Apply through SSA or local Medicaid Office
2) Medicare Savings Program for Part A & B costs
- Centers for Medicare & Medicaid Services (CMS)
3) Supplemental Security Income (SSI)
- Very low income - apply through SSA
4) SNAP Food Assistance
- Handled through state agencies.
5) LIHEAP - Low Income Energy Assistance
- Administered by states
6) HUD - Housing Assistance
- Local public housing agency - varies by city and county.
7) State-specific supplemental programs
- Check with your state’s Department of Aging and Human Services
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.