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Social Security Column
Get Into the Act with Older Americans
Month
By Phil Walton, Social Security Manager in
Toledo, OH
Guest Column
In May, we recognize Older Americans Month to
acknowledge older Americans and their contributions to the
nation. More than 40 million people in the United States are
65 or older. By 2035, the U.S. Census Bureau projects this
number will double, which makes improving the quality of
life for older Americans even more important as we look to
the future. It is Social Security’s priority to provide a
safety net for older Americans. You can learn more about
Social Security at
www.socialsecurity.gov.
The main reason Social Security was
established 80 years ago was to help older Americans. For
many older Americans, Social Security benefits are their
only source of retirement income. Social Security payments
continue for life and are adjusted to keep pace with
inflation. The
American Association of Retired Persons
(AARP) estimates that these benefits help
keep 35 percent of older Americans out of poverty.
A great tool for people of all ages is the my Social
Security
account. With a personalized my Social Security
account, you can:
Visit
www.socialsecurity.gov/myaccount and join the millions
of people who have already created accounts to help them
plan for retirement.
This May also marks the 50th anniversary of the Older
Americans Act. Congress passed the Act in 1965 in response
to a lack of community social services for older persons.
Medicare, in effect since July 1, 1966, will also celebrate
its 50th anniversary soon. Medicare provides
health insurance to more than 42 million Americans age 65
and older. If you aren’t familiar with the four parts of
Medicare, they are:
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Part A (hospital insurance): Hospital
insurance helps pay for inpatient care in a hospital or
skilled nursing facility (following a hospital stay),
some home health care, and hospice care.
-
Part B (medical insurance): Medical
insurance helps pay for doctors’ services and many other
medical services and supplies that hospital insurance
doesn’t cover.
-
Part C (Medicare Advantage plans): If
you have Medicare Parts A and B, you can join a Medicare
Advantage plan. Private companies offer Medicare
Advantage plans approved by Medicare. These plans
generally
help you pay the medical costs not
covered by Medicare Part A and B.
-
Part D (prescription drug coverage):
Prescription drug coverage helps pay for medications
doctors prescribe for treatment.
To learn more about applying for Medicare, read our
publication Applying For Medicare Only—Before You Decide.
To learn more about Social Security, read Understanding
the Benefits. Both are available at
www.socialsecurity.gov/pubs.
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