Senior Citizen Discount

Senior citizen discounts are reduced prices and benefits that are given exclusively to individuals who fall in a certain age category that can be considered senior Different jurisdictions may have different limits, and in the U.S. senior age tag is given to those above 55 years and above.

Reduced prices are offered to make things easy for people in their old age. These benefits are offered to senior citizens as most of them would live off fixed incomes. They may not have much salary or health to support work. These discounts are given with the intention of reducing their burden.

Senior citizen discounts are reduced rates for goods or services availed by a person who is considered a senior citizen. There is no official age that defines a senior in the U.S. Generally speaking, an individual, irrespective of gender, is considered a senior citizen if they are above 55 years of age.

However not all benefits are given from the age of 55. Social Security benefits can be availed from 62 years, and Medicare is from 65 years. Sixty-five years is the point of commencement of being a senior, according to the U.S. 1935 Social Security Act. The consensus points towards 60 and above for senior citizenship. 

Aged individuals have worked all their lives and often do not work after a certain period. Their bodily conditions and health may not allow them to do so. They may, hence, retire from work and may live on a fixed income. The income or their savings need to be used to pay their medical bills and living expenses. 

Discounts given to them help ease their burden, and little money could be used elsewhere. Providing discounts, in fact, supports their mental health and social engagement. When there are discounts, they can use them and come out of their otherwise sedentary lifestyle. One additional advantage is that senior citizens can now relax and plan their travel with the discounts. This helps them cut some portion of their travel costs.

The requirement can be summarized as two requirements: age requirement and residency requirement. Age requirement shows the age of the individuals, and the residency shows the citizenship status.

The senior citizens shall apply for a senior citizen card to avail of benefits given to them. The required documents are a valid photo I.D. and proof of age. A valid photo can be through a passport, driver's license or such other government-issued identification card that has a photo of them. 

The senior citizens must check with the appropriate authority. This is because different states might require different documents. Legislations may require proof of address, and documents such as lease agreements, bank statements, and utility or electricity bills can be submitted. These are documents that show an individual's current address. 

Similarly, proof of age needs the submission of a birth certificate copy or other documents that verify one's age. 

Additionally, proof of income may need to be submitted. Social security statements, pay stubs, tax returns and other documents showing an individual's financial status.

Senior citizen discounts are majorly provided under the following categories: 

• Restaurants: Restaurants offer a small reduction of the price of the food ordered.
• Clothing stores: They have specialized discounts on the purchase or may even get specialized combo offers.
• Grocery, drug, and other retail stores: Some grocery stores often pick a day to get a specific amount to be given as discounts for senior citizens. Similarly, a flat rate discount is given on prescriptions in pharmacies. This is extended to buying spectacles and sunglasses, too.
• Hotels: Hotels provide discounts on bookings and usual discounts on bookings.
• Cellphone and car companies: Providers give discounts on activation fees, plans and accessories. Car rentals provide discounts on rentals.
• Travel providers: The mode of transport decides on the discount provided. Some may allow free tickets in buses for senior citizens, and airlines may discount a rate from the base fare.
• Insurance companies: Some insurance companies give discounts on renewal premiums and increase the sum insured for senior citizens.
• Entertainment discounts on museums, national parks etc: They can get passes (or senior citizen discount cards) for a specific rate that helps in visiting a variety of entertainment places. In cinema theaters they are offered discounts on tickets and snacks.
• Tax benefits: Some countries provide tax exemptions for senior citizens. In the U.S., the IRS (Internal Revenue Service) provides free tax filing. Age for senior citizen discount differs, and the perks also differ according to jurisdictions.

There are simply four steps involved in getting a senior discount.

1. Enquiry: individuals shall approach the designated places or authorities and ask if they offer senior passes (or senior citizen discount cards). 
2. Proof: if the places offer discounts, the next step would be to show the proof that one possesses. 
3. Additional information: if the places require any additional information or verification, the senior person shall provide them. 
4. Awareness: the individual shall ask and be aware of the limitations of the discount and behave accordingly.

Obtaining a senior pass would be easier to use in places that offer discounts. 

Note: To obtain a senior pass, the individual shall be a citizen or permanent resident of 62 years or more. 

Let us look into some examples to understand the concept better.

Example #1

Imagine a senior citizen, Nathan, who is 65 years old. He wanted to travel, and while booking tickets, he noticed that the air carrier provides senior citizen discounts on flights. He immediately applied for a senior pass and booked the tickets at discounted prices for the travel. This had saved him a few hundred dollars. Similarly, he noticed that the country provides hotel senior citizen discounts and availed the same. The food was also offered at a low cost as he was above 60 years of age. Through discounts he gathered from senior citizen discounts on flights and hotel senior citizen discounts, he saved a few hundred dollars.  He plans to use it on the next trip and in buying medicines.

Example #2

In the U.S. senior citizens can avail discounts on entertainment options. The National Park Service offers entrance passes to senior citizens for those places with entrance fees. It offers two passes for senior citizens: one a lifetime senior pass and an annual senior pass. The lifetime pass is for permanent residents of 62+ years of age and requires payment of $80. Similarly, the annual pass has the same age criteria but comes with a payment of $20. This provides access to around 1000 federal recreation sites.

Some of the financial benefits that allow savings through senior citizen discounts are given as follows.

• Tax exemptions: The IRS provides deductions for seniors aged 65 and above.
• No withdrawal penalty: After 59 years of age, there is the elimination of a 10% penalty for money withdrawal from an IRA or an individual retirement account.
• Social Security payments: Senior citizens are able to enroll in Social Security payment schemes, and the returns are adjusted to inflation each year.
• Affordable health insurance: After the age of 65, individuals can sign up for Medicare and need not pay anything for Part A hospital insurance. Similarly, concessions are given for parts B and D.
• Service: Senior citizens can avail of low-cost van or taxi services to go to doctor appointments. Public transports also provide discounts. They also get low-cost meals.