According to the National Council on Aging, $16 billion in profits go unclaimed each year.
WASHINGTON — In 2021, American poverty fell almost across the board.
The only exception was one group that stood out.
“The Census showed older adults were the only group that saw an increase in poverty last year,” said Ramsey Alwyn, president and CEO of the National Council on Aging (NCOA). .
“People over 65 were the only group whose poverty rate increased from 8.9% to 10.3%,” she added.
Alwyn is Nearly 6 million older people are currently living below the poverty line.
“The generation that built our country, built our economy, built our community, built our families,” Alwyn said.
That generation is struggling.
According to Alwin, the average Social Security payment is now about $1,600 a month.
Many people have to deal with these checks almost exclusively.
“One in four seniors depends on Social Security for more than 90% of their income,” says Alwin.
Some people are forced to make difficult choices to extend their limited budget.
“In some areas, they’re very resourceful about things like lowering heat or cooling, cutting pills in half, and eating nutritious foods,” Alwyn said. But they’re completely sacrificing their health.”
An 8.7% increase in the cost of living on Social Security, adding about $140 per month for the average beneficiary, is expected to go into effect in January.
Alwin believes this should reassure seniors, but notes that other often-ignored resources are already available.
“Every year, seniors don’t consider $16 billion in benefits because they simply don’t know themselves,” she said.
For example, according to data provided by NCOA public relations manager Simona Combi, about 60% of seniors eligible for SNAP benefits (previously known as “food stamps”) “miss benefits. Overall, an estimated 5 million people.”
To find out if you or your loved one are eligible for any benefits, please visit: NCOA Benefits Check Up Website Or call our hotline at 800-794-6559.
“We can screen thousands of programs for eligibility and put hundreds or thousands of dollars back in your wallet,” said Alwin.
