Why the Elder Relief Act is Crucial for Oldder Americans

Many older Americans rely on Social Security as their primary source of income. Unfortunately, for a significant portion of this population, these benefits are not enough to cover the rising costs associated with getting older in America. Social Security, originally designed to provide a safety net for older Americans, has not kept pace with the financial realities that seniors face in 2024.

Healthcare costs are Too Much for Seniors

One of the most pressing challenges is the high cost of healthcare. Seniors often have to contend with expensive medications, rising Medicare premiums, and more frequent medical bills than younger people. These healthcare costs can quickly eat into their limited Social Security income, leaving them with little to cover other essential expenses.

Inflation Makes it Nearly Impossible For Seniors to Afford Basic Needs

It’s not just healthcare. Older Americans are struggling to afford their basic needs on a fixed income.

Inflation has driven prices sky-high for millions of Americans. This includes everyday necessities such as gas, groceries, and utilities. Furthermore, housing costs are out of control.

These rising costs across the board have made it nearly impossible for many to get by. Seniors often find it especially difficult to make ends meet due to their reliance on Social Security, and unfortunately, The same tired cost-of-living adjustment (COLA) just isn’t going to cut it.

How The Elder Relief Act Would Help

Recognizing these challenges, lawmakers have proposed the Elder Relief Act, a bill designed to provide much-needed financial support to older Americans.

If enacted, this legislation would significantly increase Social Security benefits for seniors over 82 years of age. The proposed act would provide an extra $85 per month — as well as a 4 percent annual increase in benefits. This would go a long way to help seniors keep up with inflation and the rising cost of living.

Keep up with our latest updates for more on this legislation, and please take a moment to tell your representatives in Congress that it’s time to pass this much-needed Social Security reform.