Retirement should be a time we look forward to after a lifetime of work. Unfortunately, many Americans over the age of 82 find that this time is often filled with challenges and financial uncertainty. The Elder Relief Act, currently awaiting approval in Congress, proposes significant changes to Social Security benefits that would offer real hope for those who have struggled for far too long.
If passed, the Elder Relief Act would provide essential relief to elderly Americans by increasing their Social Security benefits. The initial $85 per month would make a meaningful difference in the lives of those struggling to make ends meet during retirement.
Additionally, the bill includes a yearly increase of 4 percent, ensuring that these benefits keep pace with inflation and the rising cost of living.
Retirement is becoming increasingly unaffordable for older Americans because of rising healthcare costs and expensive Medicare premiums. Many seniors face impossible choices between paying for medications or covering other necessities like food and housing.
Furthermore, inflation has made things even more challenging for older Americans living on fixed incomes.
The Elder Relief Act looks to create needed change for seniors by providing more financial support. This would allow retirees to access the medications and healthcare services they need without sacrificing their overall well-being.
By increasing Social Security benefits, the Elder Relief Act acknowledges the reality of inflation and seeks to ensure that retirees can maintain their standard of living as the cost of goods and services continues to rise.
Congress must take swift action to pass the Elder Relief Act. Every day of delay means more elderly Americans are continuing to face financial insecurity during what should be a time of relaxation. By supporting this legislation, lawmakers have the opportunity to make a tangible difference in the lives of millions of seniors across the country, providing them with the dignity and security they deserve in retirement.
Read more about what we are doing to help American seniors here. If you agree that change needs to happen, take a moment to tell your representative to take action on The Elder Relief Act.