Half of senior Americans can't afford essentials.
Over half of older American women can't afford essentials, according to UMass-Boston.
This describes just under half of older American men. The report considers healthcare, food, housing, & transportation costs.
Rising inflation & living costs have tightened many Americans' wallets.
Elder Index assesses the expense of ageing on the nation's elderly.
Over half of older women who live alone are poor or have insufficient revenues to cover critical needs, compared to 45% of males.
The index considers health care, food, housing, & transportation costs and can be changed based on seniors' health.
Over 2 million older couples were financially insecure in 2020, according to the study.
According to HHS, the 2021 average poverty criterion for a single American is $12,880 per year.
Alaskans & Hawaiians had greater totals. Despite being eligible for Medicare, most Americans over 65 consider health care costs a hardship.
As Baby Boomers age, federal or state-sponsored health insurance will be stressed. This group could reach 77 million by 2030.
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