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"Once again, more older Americans are sinking into poverty, just as 11,000 are turning 65 every day. A country as rich as ours should be shocked that over 9.2 million of our fellow older Americans struggle to cover basic expenses like food and medicine. Aging with dignity continues to be out of reach for far too many Americans who worked hard and played by the rules.
"Under the Supplemental Poverty Measure (SPM), the older adult poverty rate went up to 15% in 2024, from 14% in the two previous years. SPM is a more accurate representation of economic well-being in our country because it takes into consideration a household's economic resources, including benefits like food assistance, and compares it with a poverty threshold set to reflect actual spending.
"When we lifted up individuals and families during the pandemic, poverty among older Americans went down to 9.5%. When that help went away, poverty increased. Programs like the Supplemental Nutrition Assistance Program (SNAP), Medicare Savings Programs (MSPs), and Medicaid provide much-needed assistance that must continue. But the recently enacted cuts to SNAP will increase hunger among older Americans and the recently passed Medicaid cuts will lead to a sicker older population.
"As we well know, Social Security continues to be an antipoverty powerhouse, moving 28.7 million people out of poverty under SPM in 2024.
"Congress needs to reauthorize and fully fund the Medicare Improvements for Patients and Providers Act (MIPPA), which helps Medicare's low-income beneficiaries afford health care and prescription drugs. The program has been extended 14 times with bipartisan support because it provides a tangible return on investment. Our Benefits Participation Map shows 70% of older Americans (9 million) who are eligible for these programs are not enrolled.
"In America, the ability to age well—with health and financial security—should be a right for every person, not a privilege."
About NCOA
The National Council on Aging (NCOA) is the national voice for every person's right to age well. Working with thousands of national and local partners, we provide resources, tools, best practices, and advocacy to ensure every person can age with health and financial security. Founded in 1950, we are the oldest national organization focused on older adults. Learn more at www.ncoa.org and @NCOAging.
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