'There's a myth that Social Security and Medicare miraculously take care of all of people's needs in older age,' says NCOAging CEO Ramsey_Alwin. 'The reality is they don't, and far too many people are one crisis away from economic insecurity.'
"There's a myth that Social Security and Medicare miraculously take care of all of people's needs in older age. The reality is they don't, and far too many people are one crisis away from economic insecurity."Around half of U.S. seniors living alone can't afford their basic necessities, statistics published Monday revealed, underscoring calls for legislation to expand Social Security and lower prescription drug prices.
Fifty-four percent of older U.S. women who live on their own and 45% of older men in the same situation are either impoverished by federal standards or cannot cover their necessary expenses, according to the, a project of the Gerontology Institute at the University of Massachusetts Boston. For older couples, the figure is 24%.
"There's a myth that Social Security and Medicare miraculously take care of all of people's needs in older age," said Alwin."The reality is they don't, and far too many people are one crisis away from economic insecurity."that"the poverty rate just doesn't cut it as a realistic look at the struggles older adults are having. The Elder Index is a reality check.
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