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Older Ohioans have worked, purchased homes, raised families, and often retired. Many have lived through depressions, wars, inflation, and recession. Now, as they look forward to their “golden years,” many find themselves in financial trouble. According to a recent AARP study, “Debt for older people isn't due to irresponsibility.” The top reasons for financial distress among seniors are:
- The high cost of medical care
- Increased gasoline prices
- Increased property taxes
According to a recent study on debt among retirees by Demos, a New York-based research and advocacy company, many seniors are increasingly turning to their credit cards:
- Nearly one-third of senior citizens in the United States carry credit card balances averaging $4,041.
- People aged 65 to 69 saw their credit-card balances grow by 217% during the last decade.
- The rate at which retirees are filing for bankruptcy has more than doubled in the past ten years.
Help is available, however, as Ohio has many resources to help senior citizens.
Medications/Prescriptions
Ohio's Best Rx – Ohio residents age 60 or over without insurance coverage are eligible for Ohio's Best Rx, a State of Ohio prescription drug discount program that does not use taxpayer dollars. For more information or to apply, contact Ohio 's Best Rx at 1-866-9BESTRX (1-866-923-7879) or visit their website at www.ohiobestrx.org .
Partnership for Prescription Assistance (PPA) – This is a program that “brings together America's pharmaceutical companies, doctors, other health care providers, patient advocacy organizations and community groups to help qualifying patients who lack prescription coverage get the medicines they need through the public or private program that's right for them.” In Ohio , contact Rx For Ohio at 1-877-RX-4-Ohio (1-877-794-6446) or visit their website at www.rxforohio.org .
Medicare Part D - Is a federal program to subsidize the cost of prescription drugs. For more information contact the Social Security Administration at 1-800-772-1213 or the Department of Job and Family Services of Ohio – Ohio Health Plans at 1-800-324-8680.
Property Taxes
The Ohio Homestead Exemption program provides a reduction on real estate tax bills to Ohio homeowners who meet any of the following qualifications:
- age 65 or older;
- permanently and totally disabled; or
- the surviving spouse of a qualified homeowner who was at least 59 years old on the date of their spouse's death.
To receive the Homestead Exemption property tax credit for property tax bills payable in 2008, individuals must apply through their county auditor's office by October 1, 2007. T he normal application dates are between the first Monday in January and the first Monday in June. If you failed to apply before the deadline in 2007, you can apply late in January 2008 and still receive credit on your entire 2008 tax bill. For more information, homeowners can contact their County Auditor 's Office.
Other Resources
Any Ohioan having trouble with debt or managing their credit should contact the Consumer Credit Counseling Agency near them. To find the nearest Consumer Credit Counseling Agency, visit the National Foundation for Consumer Credit Counseling website at www.nfcc.org or call 1-800-388-9832.
The Ohio Department of Aging works closely with statewide agencies, advocates, and service providers to advocate for and serve older Ohioans. For more information, contact the Ohio Department of Aging at 1-800-266-4346 or visit their website at www.goldenbuckeye.com .
Benefits Check Up is a confidential online questionnaire from the Department of Aging and the National Council on the Aging. It assists Ohioans in determining whether they or their loved ones are receiving all public benefits for which they qualify. To fill out the questionnaire, visit their website at www.benefitscheckup.org .
Foreclosure Assistance – Contact the Homeownership Preservation Foundation at 1-888-995-HOPE (24 hours a day/ 7 days a week) for “free, independent, customized advice to homeowners” or visit their website at www.995hope.com.
For more information, please visit www.ohiotreasurer.gov or call us at 1-800-228-1102. |
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Senior Citizens
