The SSI program, which stands for Supplemental Security Income, is a program administered by the Social Security Administration (SSA) that provides monthly cash benefits to people that are disabled or over age 65 based on financial need.

Currently, around 7.5 million people are receiving SSI benefits, but many more are now eligible as the SSA recently expanded access to benefits by modifying some of the rules. Here is what you should know.

Eligibility Requirements

To qualify for SSI, an applicant must be age 65 or older, blind or disabled, and a U.S. citizen or lawful resident. Recipients must also have limited income and assets.

Individual income must generally be under $1,971 per month, or $2,915 for couples. Countable income includes wages, pension payments, unemployment, Social Security benefits or gifts from friends. In-kind distributions such as free food or shelter are also included.

Assets must also be less than $2,000 for individuals or $3,000 for couples. This includes cash, bank accounts, other personal property, and any asset that could potentially be converted to cash. A personal residence, household goods and one vehicle, along with life insurance policies and burial funds valued under $1,500, do not count towards countable assets.

In 2024, the maximum SSI payment is $943 a month for an individual or $1,415 a month for a couple. However, the amount a recipient receives in SSI benefits may be reduced based on income, living situation and some other factors.

To help determine whether an applicant is eligible for SSI, the Social Security Administration’s benefits screening test is available at SSAbest.benefits.gov. This online questionnaire takes approximately five minutes to complete and screens for a variety of benefits, not just SSI.

It is important to note that most states – except Arizona, Arkansas, Mississippi, North Dakota, Tennessee and West Virginia – supplement the federal SSI payment with payments of their own. In some of the states that pay a supplement, an applicant may qualify for the state payment even if they do not meet the federal SSI eligibility criteria.

How to Apply

If an applicant believes they may be eligible for SSI, they can begin the application process and complete a large part of it online at SSA.gov/apply/ssi. If the applicant is disabled, they can apply for both SSI and Social Security Disability at SSA.gov/disability. An applicant may also call 800-772-1213 and set up an appointment with their local Social Security office.

To expedite the application process, applicants should have their Social Security number, birth certificate or other proof of age readily available. Information about the home where they live, such as a mortgage or lease with the landlord’s name is also required. Payroll slips, bank books, insurance policies, burial fund records and other information about the applicant’s income and assets may also be needed. In addition, proof of U.S. citizenship or eligible noncitizen status is necessary. If they are applying for SSI because they are disabled or blind, the names, addresses and telephone numbers of doctors, hospitals and clinics that have information related to their condition will also need to be provided.

For more information visit SSA.gov/ssi or see Social Security’s online SSI publication at SSA.gov/pubs/EN-05-11000.pdf.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

The one exception is for IRA owners who turned age 73 in 2024. These individuals may delay their first RMD until April 1, 2025. However, if they delay the first RMD, they will also need to take a second RMD by December 31, 2025.

RMDs are generally required for most qualified retirement plans. They apply to three types of IRAs: Individual Retirement Arrangements, Simplified Employee Pension (SEP) IRAs and Savings Match Plans for Employees (SIMPLE) IRAs.

The RMDs also apply to traditional 401(k), 403(b) and 457(b) plans. An exception to the RMD withdrawal requirement is a Roth IRA, Roth 401(k) or Roth 403(b) – there are no 2024 distribution requirements for these plans if the original owner is living.

Most taxpayers take the RMD based upon the Uniform Lifetime Table in IRS Publication 590-B. This table assumes there is a beneficiary 10 years younger than the IRA owner and calculates a distribution amount based on both ages. If the IRA owner has a spouse more than 10 years younger, a special calculation is applicable.

Owners of multiple IRAs must calculate the RMD for each plan. However, the owner can elect to withdraw the total RMD amount from any IRA plan.

Some employees over age 73 who are still working and are not major owners of a business may be able to defer RMDs until after retirement. You should consult your tax advisor if this exception applies to you.

Many online calculators are available to determine your RMD. Most large financial companies offer an online determination of the correct amount. RMDs start at approximately 3.7% of the December 31 IRA balance. They increase each year after age 73. There are also online worksheets on IRS.gov that may be helpful.

The IRS released new IRA distribution tables for 2022 and subsequent years. The new tables reflect longer life expectancies and RMDs are somewhat reduced.

Editor’s Note: An excellent way to fulfill an RMD is to give part or all of the IRA payment to a qualified charity. Qualified charitable distributions (QCDs) for individuals over age 70½ may fulfill part or all of your RMD. The QCD is a transfer directly from the IRA custodian to a qualified charity. For 2024, you can transfer up to $105,000, which is the maximum annual limit and is indexed for inflation. It is important to act quickly if you plan to do a QCD this year. Your QCD must be completed by December 31, 2024.

It is a good idea to compare your Medicare coverage options this fall. Many Medicare beneficiaries with Part D coverage can lower their prescription drug costs by shopping among plans each year during the open enrollment season, which runs from October 15 through December 7.

With some research, you could find another Part D plan in your area that covers the drugs you take with fewer restrictions or with lower costs. While you are shopping, keep in mind that the Inflation Reduction Act will cap annual out-of-pocket costs at $2,000 for all Medicare Part D beneficiaries.

Here are some tips and tools to help you shop and compare Part D plans.

Plan Finder Tool

You can easily shop for and compare all Medicare drug plans in your area and enroll in a new plan online. This is a very convenient option and takes only a few minutes.

To get started online, go to Medicare’s Plan Finder Tool at Medicare.gov/plan-compare. You can do a general search on the right side of the page, under the title “Continue without logging in.” If you wish to save your drugs and pharmacy information, you can log into or create a Medicare account on the left side of the page.

To begin finding plans on Medicare’s Plan Finder, type in your ZIP code and choose the type of coverage you are looking for. You will also be asked to enter information on the drugs you take, the pharmacies you use and whether you are interested in a mail order option.

The Plan Finder will display results for plans in your area. Be aware that a plan may not cover all the drugs you take, but it may cover alternatives. It will also tell you if the plan has a deductible and the amount of the monthly premium. 

Initially, the plans will be sorted by “lowest drug and premium cost” for the year. This is the closest estimate to what you may pay out of pocket for your Part D coverage for the year. You can select “plan details” to find out more specifics about coverage, including any coverage restrictions that might apply to your drugs. Before enrolling, it is a good idea to call the plan directly to confirm any information you read on Plan Finder since information found online may not be current.

If you need help, contact Medicare at 800-633-4227 and representatives will assist you with finding your plan options over the phone. You may also contact your State Health Insurance Assistance Program (SHIP), which provides free and unbiased Medicare counseling. To find a local SHIP counselor call 877-839-2675 or see ShipHelp.org.

Any changes you make to your coverage will take effect January 1, 2025. If you take no action during open enrollment, your current coverage will continue next year.

Extra Help

If you are low income or need assistance paying for your medication, you may be eligible for Medicare’s Extra Help program. The program is a federal low-income subsidy that helps pay Part D premiums, deductibles and copayments.

To be eligible for Extra Help, your annual income must be under $22,590 or $30,660 for married couples, and your assets (not counting your home, personal possessions, vehicles, life insurance policies or burial expenses) must be below $17,220 or $34,360 for married couples. For more information or to apply, call Social Security at 800-772-1213 or visit SSA.gov/Medicare/part-d-extra-help.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.

Obstructive sleep apnea (OSA) is a sleep disorder that occurs when a blockage of the airway prevents you from breathing during sleep. OSA blockages can be caused by your tongue or relaxed throat muscles. If left untreated, OSA is linked to daytime sleepiness and an increased risk of anxiety, diabetes, hypertension and stroke.

The primary treatment for people with moderate or severe OSA is a continuous positive airway pressure (CPAP) machine. This device keeps your airway open by pumping air through a mask that is worn over the mouth and/or nose when sleeping. Losing weight, giving up smoking and limiting alcohol can all help ease the symptoms of obstructive sleep apnea such as snoring.

However, many individuals have difficulty tolerating CPAP machines and will not use one because they are noisy and uncomfortable. Fortunately, newer CPAP machines have become smaller and quieter, with more comfortable options available. For some people with mild to moderate OSA, less invasive alternatives to CPAPs may be worth considering. Here are several treatments to ask your doctor about.

Dental device: This is designed to move the jaw so that the tongue shifts toward the front of the mouth to help keep the airway open. It is one of the primary alternatives to CPAP machines and can also be used alongside a CPAP device to help make severe obstructive sleep apnea milder.

A dentist who specializes in sleep medicine will be able to customize and fit it to help your breathing without causing harm to your bite or teeth. These custom-made oral appliances can cost between $2,000 and $4,000 but may be covered by insurance.

There are more affordable options available online to treat snoring, but experts say these may not help with OSA and could move teeth out of place or cause jaw issues if they are not properly fitted.

Position therapy: For some, sleeping on the back can make OSA dramatically worse. In these cases, switching to side sleeping – perhaps using pillows or a tennis ball attached to the back of a shirt – can sometimes help.

Tongue trainer: In 2021, the Food and Drug Administration approved a tongue-stimulating device for mild sleep apnea. These devices are worn for 20 minutes a day for six weeks and then 20 minutes twice a week thereafter.

Surgery: Those who cannot tolerate CPAP machines could have upper airway surgery to reduce the size of their soft palate or other tissue in their throat. However, surgery could have serious potential complications and results cannot be guaranteed or reversed. Generally, surgery should not be a first-line treatment.

A newer option is a surgically implanted device referred to as an upper airway stimulator. The implant stimulates a nerve that moves your tongue to keep your airway open and can be removed if it is not tolerated. This option should also be tried only if someone is unable to use a CPAP device.

Drug therapy: A study recently published in the New England Journal of Medicine, found that tirzepatide – the main ingredient found in type 2 diabetes medication Mounjaro and weight loss treatment Zepbound – helps reduce symptom severity by almost two-thirds in adults with obesity and obstructive sleep apnea. Ask your doctor about this option.

For more information on diabetes and prediabetes or to find help, join a lifestyle change program recognized by the CDC (CDC.gov/diabetes-prevention). These programs offer in-person and online classes in more than 2,100 locations throughout the U.S.

1. IRA Charitable Rollover — The IRS refers to the IRA charitable rollover as a qualified charitable distribution (QCD). An individual over age 70½ is permitted to make a transfer directly from his or her IRA custodian to a qualified charity. The transfer is not included in taxable income. If the IRA owner is over age 73, the distribution may fulfill part or all of the IRA owner’s required minimum distribution (RMD).

Because many individuals have invested their IRAs in stocks, bonds or other securities, it may be necessary to exchange the IRA stock or bond accounts for a money market fund prior to the distribution. Most custodians require a QCD to be paid from a money market account or similar fund.

There are some limits for the IRA charitable rollover. The IRA owner must be at least age 70½ and the maximum transfer for 2024 is $105,000. The transfer must be to a qualified exempt charity and may be for a designated purpose or field of interest fund. However, it may not be to a donor advised fund (DAF) or supporting organization (SO). In addition, the donor may not receive a charity dinner or other event ticket that involves a partial benefit to the donor. The entire QCD must be for a qualified charitable purpose.

2. Gifts of Cash — Individuals who itemize deductions may deduct 2024 gifts of cash up to 60% of their contribution base, which is usually your adjusted gross income (AGI). A couple with $100,000 in income may give and deduct up to $60,000 this year. While the 60% of AGI limit is substantial, some generous individuals give more than this and may carry forward and deduct the excess gift amounts during the next five years.

3. Gifts of Land — With substantial increases in value for real property, many donors will find that a gift of appreciated property is attractive. A gift of appreciated land provides two benefits for the donor. First, the donor may receive a charitable deduction for the fair market value of the land. Second, the charity is tax-exempt and therefore the donor is able to bypass tax on the capital gain. If the donor purchased development land ten years ago for $50,000 and it is now worth $250,000, the donor would pay capital gains tax on $200,000 if he or she sold the property. However, by giving the land to charity, the donor may receive a deduction for the $250,000 in value and bypass the tax on the $200,000 of potential gain. Because the donor is receiving both the deduction and capital gain bypass benefits, this type of charitable deduction is permitted for up to 30% of a donor’s adjusted gross income (AGI). If the gift value is more than this limit, it may be carried forward for five years. For example, Mary Smith has adjusted gross income of $100,000 this year and makes a gift of appreciated land with fair market value of $80,000. She can deduct $30,000 this year, carry forward $50,000 and deduct that amount over the following five years.

Editor’s Note: Many donors make their largest gifts in November or December. This is a good time to plan and consider options for end-of-year gifts.

According to the Centers for Disease Control and Prevention, as of 2021, more than 38 million Americans have diabetes, and 97 million are prediabetic. The symptoms of type 2 diabetes are often so subtle that many people overlook them, making regular testing important. Here is what you should know.

Type 2 diabetes is a disease that develops slowly over decades. Most people have prediabetes for a long time before the disease progresses to diabetes and, once at the diabetes stage, it continues to progress gradually.

Diabetes occurs when your blood glucose, also called blood sugar, is too high. Elevated blood sugar levels can damage blood vessels and affect circulation, putting you at risk for a host of ailments, from a heart attack and a stroke to blindness, kidney failure and nerve damage.

Signs and Symptoms

The earliest signs of diabetes are usually subtle, including urinating more frequently (often at night), being more thirsty and hungrier than usual, weight loss without trying, feeling very tired, having dry itchy skin and blurry vision. Symptoms of advanced diabetes and long-term damage may include cuts or sores that heal slowly, having more infections than usual and pain or numbness in your feet or legs.

Who Should Get Tested?

Because prediabetes typically causes no outward symptoms and the signs of early type 2 diabetes can easily be missed, a blood test is needed. Everyone 45 years or older should consider getting tested for diabetes, especially if they are overweight.

If you are younger than 45 but are overweight, have high blood pressure, a family history of diabetes, or belong to an ethnic group with a higher risk (such as Latino, Asian, African or Native American), you should get checked too. To help you determine your risk for diabetes, the American Diabetes Association (ADA) has a quick, online risk test you can take for free at Diabetes.org/risk-test.

Diabetes Tests

There are three different tests utilized to diagnose diabetes. The most common is the “fasting plasma glucose test,” which requires an eight to 12-hour fast before you take it. There is also the “oral glucose tolerance test” that analyzes how your body processes sugar and the “hemoglobin A1C test” that measures your average blood sugar over the past few months.

Most private health insurance plans and Medicare cover diabetes tests. If you cannot visit your doctor to get tested, an alternative is to go to the drug store, buy a blood glucose meter and test yourself at home. The cost for the device is in the range of $15 and $30, with additional costs for the test strips.

If you find that you are prediabetic or diabetic, you should visit your doctor to develop a plan to get it under control. In many cases, lifestyle changes like losing weight, exercising, eating a healthy diet and cutting back on carbohydrates may be all you need to do to get your diabetes under control. For others who need more help, many medications are available.

For more information on diabetes and prediabetes or to find help, join a lifestyle change program recognized by the CDC (CDC.gov/diabetes-prevention). These programs offer in-person and online classes in more than 2,100 locations throughout the U.S.

The majority of traditional IRA owners with larger IRA balances take the RMD during the months of October, November and December. Because many individuals with larger IRAs do not require funds immediately for living expenses, by delaying an RMD until the end of the year, they benefit from additional tax-free growth in the IRA.

Fortunately, the IRA charitable rollover will qualify for the donor's RMD. The IRS term for an IRA charitable rollover is a qualified charitable distribution (QCD). Your IRA custodian may also use this term.

There are five donor profiles for IRA charitable rollover gifts. The first are the convenience donors who appreciate the simplicity and ease of using this method for their end-of-year contributions. The second is the generous donor, who wants to give past the 60% of AGI deduction limit. The third is a major donor. This person may be a generous individual who is looking for a favorable opportunity to make a major gift. Fourth, the Social Security recipient may reduce taxes with an IRA rollover gift. Finally, a standard deduction donor will benefit from a direct IRA to charity gift.

Convenience Donor

Many IRA owners delay taking IRA withdrawals until October, November or December each year. As the individual approaches the end of the year, he or she will need to make decisions. If an IRA owner is actively making gifts to charity during the year, then it may occur to him or her that this is a good opportunity to make a gift.

Convenience donors may contact their IRA custodians to arrange for an IRA charitable rollover. There is no charitable income tax deduction, but also no inclusion in federal taxable income. It is simply a very convenient way to help their favorite charity.

Generous Donor

Some very generous individuals are already giving up to the 60% of adjusted gross income level. This is the maximum level under IRS rules to deduct cash gifts each year. Any gifts over this limit may be carried forward and deducted over the following five years. Some generous donors may also have a large IRA. Since they frequently live at a moderate level in proportion to their income and assets, they may not actually need all of their IRA.

If there is a desire to give more, they can give up to 60% of adjusted gross income from their regular assets and then make "over and above" gifts from their IRA. Some generous donors may in effect give nearly 100% of income per year through this method. Since the IRA rollover is not included in taxable income, it will have no impact on their regular income and other charitable gifts.

Major Donor

Board members, trustees and other major donors frequently have large IRAs. As the rules have continually become more favorable for IRAs and required withdrawals have been reduced, large IRAs will continue to grow. Over longer periods of time, there are occasional market dips, but the longer-term trend is positive and large IRAs will continue to increase in value.

For many professionals and business owners, the IRA may even become the vast majority of the estate. They have a need to do some "asset balancing" or there may be major future income tax problems. Therefore, it may be desirable for the major donor to give up to $105,000 in 2024 to charity from his or her IRA. This has the advantage of "balancing" the estate assets.

In addition, there may be income tax benefits. If the donor were to take the IRA distribution into his or her own personal income, there are several types of exemptions that are phased out at higher income levels. Thus, it may actually be preferable to make the gift directly from the IRA rather than making a charitable gift from regular income.

Social Security Donor

Social Security is subject to two levels of taxation. For donors who have income in excess of the first level, 50% of Social Security is taxed. For donors with income in excess of the second level, up to 85% of Social Security income may be subject to tax.

Withdrawing an amount from an IRA will potentially cause your income to increase from the 50% taxable bracket to the 85% Social Security taxable bracket. Even though the withdrawn amount is given to charity and deducted, there still is increased tax on your IRA. Thus, by making the transfer directly to charity, many Social Security recipients will save income taxes.

Standard Deduction Donor

Many seniors do not have a mortgage and their medical deductions are less than 7.5% of adjusted gross income (AGI). Thus, they may not have a sufficient level of deductions to itemize and choose instead to use the standard deduction.

If this donor withdraws $1,000 from his or her IRA and then gives it to charity, there is $1,000 of increased income with no offsetting charitable deduction, since the standard deduction is taken. Therefore, it will be preferable for all donors who are taking a standard deduction to make IRA rollover gifts directly to charity and avoid the additional income tax.

Engaging an attorney can be costly, whether you require assistance in drafting a will or a contract, or if you are confronted with a legal issue or predicament. Most lawyers today charge anywhere between $200 and $400 an hour. Fortunately, many different programs and organizations provide free or low-cost legal advice, as well as assistance in finding an affordable attorney. Here is where to look for help in your area.

Legal Aid: Directed by the Legal Services Corporation, Legal Aid provides free legal assistance to low-income individuals. Each community program will differ slightly in the services they offer and income qualifications. Visit LSC.gov/find-legal-aid to locate a program near you.

LawHelp: Powered by Pro Bono Net, a national nonprofit organization, LawHelp.org is a resource that will help you locate free legal aid near you, find answers to your legal questions or assist in filling out legal documents. These free services are for people with low to moderate incomes.

Free Legal Answers: This is an online program created by the American Bar Association that connects low-income clients with volunteer lawyers who agree to provide free legal advice online. This service does not answer criminal law questions and is not available in every state. See ABAfreelegalanswers.org to look for a program in your state.

Senior Legal Hotlines: There are approximately 30 states that offer legal hotlines for those over age 60 to access free legal advice over the telephone. To find out if this service is available in your state, go to ProSeniors.org and click on “Resources,” followed by “U.S. Senior Legal Hotline Directory.”

Senior Legal Services: Coordinated by the Administration on Aging, this service may offer free or low-cost legal advice, legal assistance or access to legal representation for people over the age of 60. Your Area Agency on Aging can tell you what is available in your community. Call the Eldercare Locator at 800-677-1116 to get your local number.

Local Law Schools: More than 200 law schools across the country have pro bono programs that offer free legal assistance provided by law students, who are supervised by law professors. See AmericanBar.org/groups/center-pro-bono – scroll down and click on “Directory of Law School Public Interest and Pro Bono Programs” to locate a program near you.

Pension Rights Center: This is a nonprofit consumer organization that provides free legal assistance for problems with a pension, 401(k) or other retirement plan. Visit PensionRights.org/find-help to search for help in your state.

Stateside Legal: For military members, veterans, and their families, StatesideLegal.org provides access to free legal information and legal assistance in your area.

National Disability Rights Network: This is a nonprofit membership organization that provides legal assistance to people with disabilities through their Protection and Advocacy System and Client Assistance Program. If you are disabled, visit NDRN.org to find help in your state.

Other Options: If you cannot get help from one of these programs, or find that you are not eligible, another option is to contact your state or local bar association to ask if there are any volunteer lawyer projects in your area or if they can refer you to an affordable lawyer. To contact your state or local bar association, go to FindLegalHelp.org.

Savvy Living is written by Jim Miller, a regular contributor to the NBC Today Show and author of "The Savvy Living” book. Any links in this article are offered as a service and there is no endorsement of any product. These articles are offered as a helpful and informative service to our friends and may not always reflect this organization’s official position on some topics. Jim invites you to send your senior questions to: Savvy Living, P.O. Box 5443, Norman, OK 73070.