Americans are facing their third wave of stimulus checks. While many have received theirs already, thousands of others are still waiting on theirs. This stimulus is intended to help all of those under a certain income cap, including many over 65.
According to the IRS, if you’re over the age of 65 and are on social security (or are a veteran), you will probably be on the list of people receiving the $1,400 stimulus check. There are a few different factors that may change this, so it is essential to check your availability.
How To Track Your Checks
For senior citizens, in particular, it’s essential to keep an eye out for all potential scam and fraud risks surrounding the stimulus checks. Many scammers are trying to get their hands on those checks, from intercepting the mail to tricking people through scams.
If you’re concerned about your stimulus check, there are ways to track them. Use those methods, especially if the check is coming by mail. When you receive your check, be on high alert for scams surrounding stimulus checks and additional income.
Additional Funding
Much focus has been placed on the stimulus checks themselves. But there are other benefits out there, including the stimulus package. Most notable for senior citizens is the proposed increase in federal Medicaid matching.
According to CNBC, the proposed additional funding could be seen as a massive boon to those struggling with medical bills. This includes those living in nursing homes. The increase would help raise caregivers’ pay, which can help provide care inside the house.
Now more than ever, the idea of relocating from a nursing home feels like a good one. Covid-19 has changed the way people look at the world. More specifically, it has made many wary about living in facilities that require close quarters.
Additional Tax Breaks
An additional benefit that comes with the latest stimulus package is an opportunity for an extra tax break. The CARES Act successfully increased the amount a family (or individual) can write off at tax time. Meaning that an additional $600 tax break is available, depending on how much has been donated within the last year.
The intention behind this bill is clear, as it encourages people to give and help more. Given the nature of what our communities have been facing, little benefits like this can end up making a world of difference.