Understanding the Distinction: AARP vs. AARP Foundation
It’s common to confuse the services provided by AARP and its charitable counterpart, the AARP Foundation. While they work together to support older Americans, their functions differ significantly, especially regarding financial aid.
- AARP (the membership organization): This arm provides discounts on a wide range of goods and services, such as insurance, travel, and dining, to its paying members. It does not provide direct financial assistance like cash payments to individuals.
- AARP Foundation (the charitable affiliate): This is where the financial assistance and support programs reside. The Foundation is dedicated to reducing poverty among older adults by providing vital resources and connecting them with benefits for which they are eligible. It works with communities and partners to offer its services, often at no cost.
Key Financial Assistance Programs from the AARP Foundation
The AARP Foundation offers several programs designed to help older adults, particularly those with low incomes, improve their financial stability. You do not need to be an AARP member to access these services.
Benefits Access and Assistance
This initiative helps vulnerable older adults secure the public benefits they are entitled to but may not be receiving. The Foundation works with community partners to provide hands-on assistance with applications and information for programs including:
- Supplemental Nutrition Assistance Program (SNAP): Helps make healthy food more affordable by assisting with enrollment.
- Medicare Savings Programs (MSP): Helps cover Medicare-related costs like premiums, deductibles, and co-insurance for those with limited income.
- Low Income Home Energy Assistance Program (LIHEAP): Provides support for managing household energy costs.
AARP Foundation Tax-Aide
This free service provides tax preparation assistance to taxpayers of all ages, with a focus on those 50 and older with low to moderate income. IRS-certified volunteers help ensure that eligible individuals receive the tax credits and refunds they have earned.
Workforce Development Programs
For older adults looking to re-enter the workforce, gain new skills, or simply find employment, the AARP Foundation offers guidance and training.
- Finances 50+℠: An educational program focused on building financial capability, setting goals, and establishing better money habits.
- Employment Programs: Provides training and resources to help older adults find and succeed in new employment opportunities.
Disaster Relief and Assistance
Following natural disasters like hurricanes or wildfires, the AARP Foundation distributes emergency grants to local community organizations to aid affected seniors. This support helps provide immediate relief and long-term recovery assistance.
Savi Student Loan Repayment Tool
Through a partnership with Savi, the AARP Foundation offers resources for adults over 50 who still hold student loan debt. This tool provides personalized guidance on understanding debt, finding repayment options, and potentially reducing monthly payments by enrolling in federal programs.
AARP Money Map™ Unplanned Expense Tool
This free online tool helps users navigate unexpected financial emergencies, such as medical bills or home repairs, by generating a step-by-step action plan and recommending local resources.
Comparison: AARP vs. AARP Foundation Financial Services
Here is a simple comparison to help you understand the differences in their financial offerings.
| Feature | AARP Membership Benefits | AARP Foundation Programs |
|---|---|---|
| Cost | Annual membership fee required | Often free to all eligible individuals |
| Primary Goal | Provides discounts and services to members | Reduces poverty and hardship for older adults |
| Type of Aid | Member discounts on products/services | Direct support through resources, guidance, and benefits access |
| Eligibility | All members aged 50+ | Typically low-income older adults, regardless of AARP membership status |
| Direct Payments | Does not provide cash payments | Does not provide cash payments directly to individuals, but helps secure government benefits |
How to Find and Apply for Assistance
To access the financial assistance programs available through the AARP Foundation, follow these steps:
- Use the Local Assistance Directory: The AARP Foundation's online directory is the best place to start. Enter your ZIP code to find food, housing, health, and employment programs in your community. AARP Foundation Local Assistance Directory
- Explore Program Websites: Visit the AARP Foundation website and navigate to specific program pages, such as the Benefits Access or Tax-Aide sections, for detailed information and application guidance.
- Contact State and Local Agencies: For public benefits like Medicare Savings Programs, the Foundation will guide you to your State Medicaid Agency, which handles applications.
- Use the AARP Money Map™: For unexpected expenses, use this free online tool to create a personalized action plan for your financial situation.
A Note on Fraud Protection
Alongside its financial assistance programs, AARP also operates the Fraud Watch Network to help protect older adults from scams. This is a critical resource, as individuals seeking financial help are often targeted by scammers. The Fraud Watch Network provides alerts, guidance from specialists, and a toll-free helpline (877-908-3360) for both members and non-members.
Conclusion
While AARP membership itself does not provide direct financial assistance, the work of the AARP Foundation is a vital lifeline for many low-income older Americans. Through its various programs, the Foundation connects seniors with critical public benefits, provides free tax preparation, offers workforce development, and supplies essential aid during disasters. By understanding the distinction between the two organizations and utilizing the Foundation's resources, older adults can find the support they need to improve their financial well-being and security.
