Latest news with #governmentbenefits
Yahoo
7 days ago
- Yahoo
Secret Service operation cracks down on criminals who've been 'stealing food from the mouths of children'
A special multi-agency operation took place in parts of Tennessee and Mississippi to fight a growing and costly form of fraud — one that can directly impact families in need who rely on electronic benefit transfers (EBT) to get by. From July 8-9, the Secret Service, along with local law enforcement officers, launched a coordinated effort. They visited hundreds of businesses to search for illegal card skimmers that could potentially lead to the siphoning of government benefits before recipients use them. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it 'This is an operation that is primarily based around education and outreach,' Memphis Field Office Special Agent in Charge Mark Switzer shared during a morning brief, as captured by WREG News Channel 3 cameras in a story published July 8. In total, more than 2,200 point-of-sale (POS) terminals, 857 gas pumps and 234 ATMs were inspected across more than 486 businesses, according to the Secret Service. Four skimming devices were recovered, which the agency estimates prevented potential losses of $4.2 million. The broadcaster accompanied agents and was present when one skimming device laid on top of a card reader's keypad at a Memphis grocery store was retrieved and bagged as evidence. How card skimming works Card skimming is a type of fraud that involves installing hidden devices on ATMs, gas pumps or POS devices to steal information from card users. These devices can include keypad overlays that record a PIN and card readers that copy card data. In some cases, a small camera is used to record the transaction. 'There's a number of [criminals] that are out there that are getting ahold of this information and then using it for their own purposes,' Switzer told WREG News Channel 3. With this data in hand, fraudsters can clone your card and quickly drain your account. The Secret Service estimates skimming costs consumers and financial institutions over $1 billion each year. But the stakes are often higher for EBT cardholders, who are vulnerable and rely on benefits to survive, and states may not have programs in place to replace stolen funds. 'They are literally stealing food from the mouths of children,' the Secret Service described in a news release. Read more: Americans are 'revenge saving' to survive — but millions only get a measly 1% on their savings. EBT cards in Tennessee are especially vulnerable because they don't have a chip like many bank-issued cards. Magnetic stripe cards are easier to copy, making them prime targets for skimmers. Agents of the task force are working to uncover who installed the device found in the Memphis grocery store, per the broadcaster, and they educated employees on how to better detect these devices. Avoid falling victim to card skimming Card skimming has become a major issue for both EBT and credit card users. The hidden devices can be hard to spot, and after the information is gathered money can be removed from an account quickly. Here are a few tips to reduce your risk: Check the scanner before you swipe: Before swiping or inserting your card, gently tug on the card reader and the keypad. If they feel loose or look off, don't use that terminal. Use visible POS machines: If you're using a debit card, opt for bank ATMs. If you're paying with a credit or EBT card, use the card inside or at well-lit terminals in visible locations. Block your PIN: Use your hand to shield your PIN when you punch it in. While some scammers use keypad covers, others use pinhole cameras to record transactions. Check your account regularly: Make sure to check your bank or EBT card account often and verify even small purchases. Keeping a record of where and when you use EBT funds can help identify suspicious transactions. Change your PIN before benefits hit: If you have an EBT card, consider changing your PIN regularly or the day before benefits are scheduled to hit. This way, if someone has your PIN from last month, they may not have access to your new funds. If you suspect your card has been compromised, call the customer service line immediately and have your card frozen. Report any fraud to your bank or EBT service provider. Above all, be alert. Staying vigilant is your best defense against card skimming. What to read next Robert Kiyosaki warns of 'massive unemployment' in the US due to the 'biggest change' in history — and says this 1 group of 'smart' Americans will get hit extra hard. Are you one of them? How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Solve the daily Crossword
Entrepreneur
13-06-2025
- Business
- Entrepreneur
Entrepreneur UK's London 100: Creditspring
Industry: Fintech With living costs remaining high and credit options decreasing, millions of people across the UK face financial struggles. A quarter (26%) of people say this is the most financially unstable they've ever been whilst over one in ten (13%) are reliant on credit to pay their bills. FCA-regulated responsible lender Creditspring launched in 2016, providing a unique way for customers to access loans – through subscriptions. This approach makes lending fairer, safer and easier to understand for borrowers. Creditspring's innovative model enables members to pay a small, fixed monthly membership fee and can access two no-interest loans per year. This approach means that borrowers can see exactly how much they are going to pay the moment they apply, without hidden charges or late fees and no risk of falling into debt spirals. Members also have access to a range of additional support solutions that can boost their financial resilience, from improving their credit score to assessing their eligibility for support schemes via its Benefits Finder, a tool that unlocks access to unclaimed government benefits. Since launch, Creditspring has found over £2b in unclaimed benefits with members claiming an average of £977 in monthly government support. During 2024, Creditspring provided over £200m in financial support to borrowers, a 63% increase on the £127m lent in 2023. Across 2024, Creditspring's revenue increased by over 80% (from almost £18.2m to over £33.2m) as it became profitable in Q3, continued to scale and provide increased responsible credit options.
New York Times
12-06-2025
- Business
- New York Times
Rich Gain and Poor Lose in Republican Policy Bill, Budget Office Finds
The far-reaching domestic policy bill that Republicans recently pushed through the House would provide rich Americans with a financial lift while taking away government benefits from the poor, the nonpartisan Congressional Budget Office said on Thursday. The analysis is the first from the budget office that lays out how Americans at different income levels would be affected by the Republican legislation, which slashes taxes and cuts spending on safety-net programs like Medicaid and food stamps. Americans would, on average, gain from the bill, according to the analysis, but the consequences would be very different for poor Americans and for rich ones. The bottom 10 percent, for example, would overall lose government benefits worth an average of $1,559, or 3.9 percent of their current income, each year over the next decade, according to the budget office. The bottom 30 percent of Americans would all, on average, lose more benefits than they would receive from the bill. In contrast, the top 10 percent would gain an average of $12,044, a 2.3 percent annual increase to their current income. Middle-class Americans would see smaller gains. The middle 10 percent of Americans would on average net $514 per year if the measure were enacted, an annual increase of 0.5 percent in their current income. Overall, the richer Americans are, the larger the benefit they would receive from the legislation. That is true for the bill overall over the next decade, as well as for each individual year through 2034 as provisions in the bill phase in and out. While stark, the budget office's conclusion was not a surprise. Several other independent analysts had already concluded that the legislation would be regressive, meaning that its benefits would be skewed toward Americans with more income. That is because of the nature of the agenda Republicans have pursued. In general, income tax cuts, the centerpiece of the bill, tend to provide their biggest benefits to the high-earning Americans who pay the most in taxes. The poorest Americans already often do not owe any income taxes, meaning they do not benefit from a tax cut. At the same time, Republicans have targeted programs that help low-income Americans for cuts. Under the House-passed version of the legislation, nearly 11 million Americans are expected to lose health coverage, for example. The loss in those benefits would overwhelm the modest savings that Americans on the lower rungs of the income ladder would see from tax cuts. Even with the cuts to safety-net programs, the legislation would still be costly, with the budget office previously estimating that it would add nearly $3 trillion to the debt over the next decade, including additional borrowing costs. Republicans in the Senate are still working on the legislation, though the changes they are planning are not expected to alter the overall thrust of the legislation, meaning the final product is all but certain to favor rich Americans over poor ones.
Sky News
12-06-2025
- Business
- Sky News
The benefits and discounts available to pensioners
Why you can trust Sky News The reinstatement of winter fuel payments for millions of pensioners made headlines at the start of this week. The withdrawal of the winter fuel allowance at the start of the Labour government's term sparked criticism last September, with fears some poorer pensioners would be forced to choose between heating and eating, even though the government insisted the worst off would still be able to claim financial support. The cut has now been reversed - and the chancellor confirmed the support will extend to everyone over the state pension age with an income of £35,000 a year or below. Nine million more pensioners should be eligible for payments this winter, compared to last. It's one of a number of entitlements and perks available to those reaching state pension age - here, we have a look at many of the benefits and discounts up for grabs... Government benefits and entitlements State pension This is a regular payment from the government once you reach state pension age and it's determined by your national insurance contributions. State pension age is currently 66 for both men and women. A full basic state pension comes in at £221.20 a week and you can read more about it here. Attendance allowance Worth up to £108.55 a week, this is for people over state pension age who need help with personal care or supervision because of an illness or disability. Eligibility information here. Pension credit This is a means-tested benefit for people over state pension age who have a low income. It comes in at £218.15 a week for single people and £332.95 per week for couples. More information here. Cold weather payment This benefit is £25 a week and to be eligible the average temperature in your area needs to have been, or be forecasted to be, 0C or less for seven days in a row. You'll usually be eligible for the payments if you get pension credit. Check your eligibility here. Warm Home Discount It's a one-off payment of £150 to help with the cost of energy during the winter. Those who are with an electricity supplier who is part of the Warm Home Discount scheme will get the payment automatically if you or your partner receive the Guarantee Credit portion of pension credit. Info here. National Insurance cut You stop paying Class 4 National Insurance after you reach state pension age. Free gas safety check Some energy companies provide free gas safety checks for those ages 65. To sign up, just search for your gas provider (eg, British Gas) and "Priority Services Register". TV Those over the age of 75 and receiving pension credit can get a free TV Licence, paid for by the BBC. Health These are free to anyone 60 and over. Eye tests You're entitled to a free NHS sight test if you are 60 or over. Info here. Dental NHS dental treatment is not free for pensioners, but you may be eligible for free dental treatment if you or your partner receive: • Income Support • Income-related Employment and Support Allowance • Income-based Jobseeker's Allowance • Pension Credit Guarantee Credit • Pension Credit Guarantee Credit with Savings Credit • Universal Credit Info here. Wigs and fabric support You're entitled to free NHS wigs and fabric supports if you or your partner gets: • Pension Credit Guarantee Credit or • Pension Credit Guarantee Credit with Savings Credit. Travel Senior railcard This allows those aged 60 or over to save 1/3 on most rail fares throughout Great Britain. A one-year card costs £30 while a three-year senior railcard is £70. Sign up here. Interrail pass Over 60s can enjoy 10% discount on travel in Europe with this pass (which lets you explore 33 countries by train). Click here if you're interested. Free bus pass In Wales, Scotland, Northern Ireland and London, you can get a pass for free travel when you reach 60. Apply for those here. National Express senior coachcard If you're 60 or over you can get a senior coachcard which offers 1/3 off standard and fully flexible fares to hundreds of towns, cities and airports across the UK. Click here for more on that. London taxicard scheme This is for people with long-term mobility difficulties, or severe sight impairment. Those who receive a War Pension Mobility Supplement are automatically eligible for this. Apply here. Vehicle discounts ATS Euromaster offer discounts to those who join their Club 60 group. The range of benefits include an MOT for just £27 and 15% off servicing. Hotels Travelodge The hotel chain offers 25% off on stays for those over 60. Princess Hotels & Resorts The company offers discounts of up to 20% to senior citizens. Marriott Bonvoy The Marriott senior discount is offered to all guests 62 and over. Radisson Hotels The hotel typically gives 10% discount off their standard rates for senior citizens. Hilton Hotels Travellers aged 65 and older can save up to 7% on stays. RH Hotels If you are over 60, you will get a 5% discount and free water/wine at meals (subject to availability) at RH Hotels sites. Food and restaurants Greene King Pubs There are menus offered for senior citizens at reduced prices. Patisserie Valerie The chain offers 10% off for over 60s. Dobbies garden centres Those over 60 can enjoy a main course and any cake for only £11.95 (available Monday to Friday from 12noon until 3pm). Discounts on days out National Trust sites With a National Trust senior membership card, you can get free entry to over 500 locations across the UK. If you're an existing member aged 60 or over, and you've been a member for at least the past three consecutive years, you can ask for 25% off your subscription, which means that you'll pay £68.40 for individual senior membership. More info here. English Heritage A senior membership card offers access to over 400 sites and gives you free parking at most of these places. The monthly fee is £5.50 while if you pay for it annually it is £66. Apply for an annual pass here. People over 60 are entitled to a senior life membership card. The card offers a number of benefits, including unlimited entry to RHS gardens, discounted tickets to RHS shows such as the Chelsea Flower Show, and personal gardening advice. More here. Royal Botanic Gardens, Kew There are concessions for senior citizens over the age of 65. Theatre discounts National Theatre All over 60s can save on midweek matinees with £20 off £69 and £49 tickets for shows in the Lyttelton and Olivier theatres. Royal Shakespeare Company Over 65s are entitled to discounted tickets. A 20% discount is available on all seats for Monday and Tuesday evening performances and all midweek matinees. Birmingham Hippodrome The theatre offers concessions to those over 65. Savoy Theatre Senior citizens (anyone over the age of 60) can claim discounts of up to 25% for select shows. Theatre Royal Glasgow Those over the age of 60 can get discounts on tickets. Museums Imperial War Museums Those over 65 are entitled to discounts on tickets. Tate Modern While entry to the museum is free, there are special exhibitions that are ticketed. Over 60s can enter these special exhibitions for a discount. London Transport Museum Over 60s are offered concessions on annual passes. Football season ticket discounts A number of football clubs offer discounted tickets to senior football fans. These are just a few of them... Arsenal Offers senior season ticket holders a 57% discount. Liverpool FC Concessions for over 65s. Sheffield United Concessionary tickets to seniors aged 60 or over. West Ham United Football goers over the age of 66 have access to concessions. Chelsea FC Those 65 or over will be able to purchase a senior citizen ticket during the reservation period and reserve their seat for Home cup or Home UEFA competition matches at a reduced concession price. Retail Boots There is an over 60s reward that allows you to gain eight points on every £1 you spend on Boots brands and selected exclusives. Iceland The chain offers 10% discount for over 60s every Tuesday if you have a get a bonus card. Odeon Over 60s can join the Silver Cinema Club and enjoy special screenings during quieter times of the day. Tickets start from £3.50 and the price includes tea, coffee and biscuits, served before the film. Specsavers If you're over 60 and buy a single pair of glasses from the store's £70 range or above, you'll get 20% off. Other perks Boundless Retirees from the public sector or civil service can save up to 35% on flights, holidays, days out car hire and much more if they sign up for a Boundless membership card. Ramblers Association The walking charity offers concessionary individual or joint membership to those who receive only a state pension (no private pension). The membership entitles you to thousands of walking routes, access to guided group walks and savings on gear. Golf Some golf clubs offer membership discounts to older players. You can find out if there is a golf club near you that offers a membership discount via Golf Support. Vet bills The Dogs Trust offers 50% off their membership for over 60s. But it is also worth asking your local vets to see if there are any discounts for over 60s. Handyperson services Over 70 local Age UKs operate handyperson services which offer the elderly extra help with small practical jobs, including small repairs and home security. You can find out what is available in your area on the Foundations website. Better Leisure Centres If you're 66 the Better Health Senior Membership allows you to access the company's range of gyms, swimming pools and fitness classes, all at a competitive price. You can also get up to 30% off other activities and services.
The Guardian
09-06-2025
- Business
- The Guardian
Democratic senators call on private firm to reveal how it will profit from Trump's Medicaid cuts
Two Democratic senators are demanding to know how a company that administers government benefits could profit from Republican-led cuts to Medicaid, the public health insurance program for people who are low-income, elderly and disabled. Senators Elizabeth Warren and Ron Wyden sent the letter to Maximus, Inc on Monday. The company is the largest private contractor to states who seek to outsource their administration of government assistance, including health insurance and food aid. 'Maximus's long history of kicking Americans off of Medicaid to boost their profits should be a warning of what's to come if Republicans pass their 'big beautiful bill,'' Warren told the Guardian in an exclusive comment. 'We need to hold Maximus accountable for padding their bottom line by making Americans suffer.' Maximus is a publicly traded company with a market capitalization of $3.9bn. It is the largest company in an industry that helps states privatize administrative obligations in programs that serve the poorest residents – a phenomenon one media outlet described as the 'welfare-to-work industrial complex'. Warren and Wyden wrote that the company, 'has an abysmal track record, with reports of egregious backlogs and service delays and several reported instances of fraud'. In states where it's hired, Maximus determines whether needy Americans qualify for a wide range of public assistance – from Medicaid to 'food stamps', formally called the Supplemental Nutrition Assistance Program (Snap) to 'welfare', or Temporary Assistance for Needy Families (TANF), according to the letter. Warren and Wyden's letter comes as congressional Republicans seek to add red tape to government-run health insurance programs, including proposed historic cuts to Medicaid, the public health insurance program that covers roughly 71 million Americans who are low-income, disabled and elderly. In addition to Trump administration-led rule changes to other government health insurance programs, the non-partisan congressional budget office estimates Republican-led efforts could lead 16 million Americans to lose insurance by 2034. In a statement, Maximus told the Guardian: 'The accusations contained in the letter Maximus received this morning are baseless. The truth is Maximus has been recognized for its high quality service connecting individuals with critical health coverage.' 'Maximus prides itself on being a conflict-free and accountable partner to government,' the statement continued. 'We do not set policy, rather we deliver on policies enacted by members of both political parties by developing and deploying technology to rapidly fix problems in legacy government systems and deliver the right services to the right people at the right time.' Maximus has spent more than $2m lobbying the federal government since 2024, and said in an investor update that its objectives 'align' with the cost-cutting by billionaire Elon Musk's unofficial 'department of government efficiency' (Doge). 'Our teams are well prepared for this moment as the DOGE objectives align with many of our recent Maximus Forward initiatives,' the Maximus CEO Bruce Caswell told investors on the call, according to a transcript. He later added: 'A reduction in Medicaid recipients may not necessarily decrease consumer engagement, especially if eligibility verification or activity reporting requirements become more frequent than today. Additionally, in many of our largest states, we also manage state-based exchanges' – referring to individual insurance marketplaces colloquially called Obamacare exchanges – 'where customers can enroll if they no longer are eligible for Medicaid. This helps maintain our ongoing engagement with those consumers.' The senators also noted that in late 2022 and 2023, when states were going through a post-pandemic Medicaid 'determination' process – or reexamining whether beneficiaries were still eligible for the program – 'your company's stock price jumped almost 50% on the news'. 'With millions of dollars spent on lobbyists in Washington and around the nation, you have worked to enact the largest Medicaid cuts in the program's history – and ensure that your company and you personally will financially benefit,' Warren and Wyden wrote. A central tenet of Republican's plan to cut Medicaid is to force states to add more bureaucracy to the program, including 'work requirements' in the form of documentation from beneficiaries. The overwhelming majority of Medicaid beneficiaries either already work or would be eligible for exemptions to the requirement, but would be at-risk of losing insurance because of the added red tape. All those added documentation requirements need to be administered by states. Already, Warren and Wyden said, Republicans have set aside $100m in their proposed bill, the 'one big, beautiful bill'. However, they said that is likely an 'undercount' of what is necessary to administer the new programs, and that states would need hundreds of millions more dollars to implement new work requirements and changes to food assistance programs.
