Data from the Kensus Bureau shows that seniors are the only age group to see an increase in poverty in 2024. Without government help, it could get worse, experts say.
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Poverty is on the rise, but only among older adults, according to the US Census Bureau’s annual poverty report.
Based on formula measurements, a simple calculation based on pre-tax cash income compared to national thresholds, the percentage of elderly people in poverty rose from 9.7% in 2023 to 9.9% last year, data show. Using more comprehensive supplementary measures, including non-cash government benefits, we took into account tax and intrinsic costs such as healthcare and labor-related costs, adjusting for regional differences in housing costs, and advanced poverty increased from 14.2% to 15%, achieving the highest poverty level of all age groups.
The increase was in contrast to all other age groups, which remained reduced or stable.
The official measures have led to a decline in poverty for children aged 18 to 64 years of age in 2024 from 10% the previous year to 9.6%, while poverty for those under the age of 18 has fallen from 15.2% to 14.3%. Using supplementary measures, poverty was stable at 12.2% for ages 18-64, but last year it slipped from 13.7% of children to 13.4%.
“Another time, older Americans are sinking into poverty, just like 11,000 people turn 65 every day,” said Ramsey Alwin, president and CEO of the National Council, a nonprofit focused on improving the lives of seniors. “A country as rich as us should be shocked by how over 9.2 million elderly Americans struggle to cover basic costs like food and medicine.”
Why are more elderly people falling into poverty?
Not only have older people had to tackle rising inflation since the pandemic, they are also dealing with expensive nursing care costs, some experts said.
“The rise in senior poverty reflects the wider care crisis affecting older Americans,” said Jason Ressendes, president and CEO of the Nonprofit National Alliance for Care. “Our latest research shows that almost half of family caregivers include 14 million elderly people themselves — face a significant financial burden from providing care by saving a lot of money and taking on debt.”
“If older Americans don’t have access to affordable care services, families will bear the financial burden and create a cycle in which more seniors will be forced into poverty,” he said.
The expiration of support during the additional pandemic era has also been undermined for many years. “When that help was gone, poverty increased,” Alwyn said.
Poverty among seniors has been rising annually since 2020 based on supplementary measures, according to Census Bureau data. in
What can you do to help the elderly?
Programs such as the Supplementary Nutrition Assistance Program (SNAP), Medicare Savings Program (MSP), and Medicaid provide much-needed support that must continue.
But “The recently enacted cuts to snaps will increase hunger among older Americans, and the recently passed Medicaid cuts will lead to an older sick population,” she said.
Instead, “Congress needs to reapprove and fully fund Medicare improvements under the Patients and Health Providers Act (MIPPA) that helps Medicare low-income beneficiaries pay for healthcare and prescription drugs,” Alwyn said. “The program was extended 14 times with bipartisan support to provide a concrete return on investment.”
She added that better education, outreach and registration for these programs is also needed. The NCOA Benefits Participation Map shows that 70% (9 million) of older Americans are eligible for these programs but not registered.
Additionally, social security needs to be strengthened, experts say. The program “continued to be the largest anti-poverty program,” the Census Bureau said in its report. Social Security said last year’s supplementary measures had separated 28.7 million individuals from poverty in 2024.
“In America, the ability to age well with health and financial security should be a right to everyone, not a privilege,” Alwyn said.
Medora Lee is a money, market and personal finance reporter for USA Today. You can contact her at mjlee@usatoday.com and subscribe to our free daily money newsletter for personal finance tips and business news every Monday to Friday morning.
