8 Debt Consolidation Moves Seniors Don’t Know About

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#8: Medicaid-Linked Financial Hardship Programs

Some states coordinate Medicaid eligibility with financial hardship debt consolidation programs, allowing eligible seniors to consolidate medical debt without losing benefits. If you're on Medicaid and facing significant medical bills, your state's Medicaid office may have partnerships with consolidation services or direct assistance programs. These integrated programs are rarely publicized, but they can eliminate medical debt while protecting your healthcare coverage—a critical win-win for cash-strapped retirees.

Debt consolidation for seniors doesn't end with bank loans and credit card balance transfers. Explore these eight options with your local Area Agency on Aging or a HUD-certified counselor to find the program that fits your unique situation.

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