How much do health care and housing cost for seniors? Many of us are shocked to learn how much.
Health care for Seniors
Medicare Advantage Plans cover 80% and 20% of a lot is a lot. Check local costs at https://fairhealthconsumer.org/ before scheduling a procedure. If your doctor cannot prescribe a cheaper medication, see what help you can get at http://panfoundation.org. For all medical costs, try www.clearhealthcosts.com and www.familydoctor.org.
Housing for seniors
Medical costs can come in chunks, like being hit by an asteroid. Next to medical care, housing is the biggest expense for seniors, around 38% of the monthly budget. Austin is a hot market, making housing an even bigger concern. Every year the Austin Tenants Council publishes a “Guide to Affordable Housing in the Greater Austin Area.” www.austintenantscouncil.org. While the local Section 8 waiting list is again closed, there are several apartment complexes in Southeast Austin which are Section 8 only. In addition, income-based and often very low rent studios, apartments and duplexes are available at several locations through Foundation Communities. Some complexes have on-site food pantries and social services. www.foundcom.org.
Money not spent on absolute necessities can be stretched. www.seniordiscounts.com.
There are several low and no-cost options for seniors. www.austintexas.gov/department/seniors-programs-and-services.
Terry Garrett is a member of the National Academy of Elder Law Attorneys and is active in the Texas and Austin Bar Associations. She graduated with honors from Cornell University. She was on the Dean’s List at Wharton Business School. She earned her J.D. at Columbia Law School, receiving the Parker Award and a Mellon Fellowship.
She assists families of people with special needs, people planning for the retirement years and people administering estates.