Many Older Adults Living Paycheck to Paycheck
June 7, 2021
It is a tragedy that 45 percent of older Americans are having problems meeting their basic obligations. Many of these older adults must routinely shuffle their available resources in an attempt to keep quality health care, a roof over their heads, lighting, heating and air conditioning, cash resources for food and medicine, and other life basics. Living paycheck to paycheck has morphed into how do I live day today? Choices like should I eat today or purchase high blood pressure medication are sadly becoming the norm for many. While this might read as dramatic, the truth is that envisioning lyrical "golden years" for nearly half of Americans 65 or more has become an illusion.
Aging in America and living in poverty is synonymous with 6.4 million seniors. While the 45 percent statistic is of desperate social concern, projections infer that, by 2050, senior poverty will quadruple without major government policy changes. The significant steps that currently address education and jobs, such as poverty prevention programs, policies, and corresponding social movements, have made inroads in reducing poverty levels for some. However, for the increasing population of low to no income seniors, these preventative measures do not address their demographic and are too late to save them.
To fight senior poverty, TalkPoverty suggests the following:
Strengthening the existing social safety net, including shoring up the insolvencies inherent in the Social Security program. Improving the Supplemental Security Income (SSI) and Supplemental Security Disability Income (SSDI) programs, and Medicare and Medicaid (CMS).
Increase the available programs providing assistance with healthcare, including long-term care costs. Fully 70 percent of Americans over the age of 65 will require long-term care at some point in their lives.
Advocate for federal support for a more robust long-term care safety net aside from Medicaid, an already strained system with long waiting lists to reside in often sub-standard facilities with poor infection control rates. There needs to be a solution for middle-income seniors.
Reauthorize the Older Americans Act (OAA), which provides funding for seniors' critical services to remain living healthy and independent lives. Congress can renew its commitment to providing seniors with essential services by reauthorizing this Act.
Justice in Aging reports that older Americans with Medicare still spend an average of $5,368 per year on out-of-pocket healthcare costs, and the majority have no long-term care coverage. There must be a push to protect and improve programs and leverage technology, making care more affordable and more available to seniors aging at home and in their communities.
The advent of the COVID-19 pandemic has increased legal issues for seniors, for which seniors require a champion in the courts. The federal mandate protecting evictions is due to expire in 2020, putting many seniors at risk of losing their homes. Justice in Aging works in partnership with pro bono attorneys and advocates at top law firms to return billions in benefits to older adults with limited resources. The decisions rendered are often precedent-setting cases benefiting hundreds of thousands of seniors.
Anyone in American can wind up aging into poverty because bad things can happen. Nearly five million older adults in America live on less than 1,000 dollars a month. Improvements in independent living programs and senior access to them can help older adults meet their basic needs while remaining in their communities. Expanding access and benefits to lower-income seniors through Social Security, SSI, and SSDI is the responsibility of American elected leaders. There is a moral imperative afoot to protect vulnerable populations, and none are more susceptible than aging elder Americans falling into cycles of impoverishment.
If you or a loved one would have questions or would like to talk about your particular situation, please don’t hesitate to reach out. Please contact us at 949.418.1083 and schedule a free consultation to discuss your legal matters.