- Today there are 40 million Americans over the age of 65
- By 2030 the senior population is projected to more than double, to 91 million seniors, in the United States
Federal Poverty Level vs. Elder Index
Poverty is a common thread among seniors across the country. Many are struggling to pay for necessities such as meals and prescription medication. Making ends meet is a constant balancing act. The majority of the seniors who are living in poverty receive some form of government assistance such as Social Security and Medicare. These funds are critical but often aren’t enough.
The Federal Poverty Level (FPL) was created in 1964 with a one-size-fits-all calculation and does not factor in regional differences. Although adjusted every year for inflation, the formula for calculating FPL has not changed since it was devised.
UCLA’s Center for Health Policy Research developed the Elder Index, a measurement that uses region-specific data to calculate basic income needs for food, housing, healthcare and transportation.
Federal Poverty Level $1,012/month or $12,140/year – This is the calculated income needed for an individual person to pay for food, housing, healthcare and transportation.
What Does Serving NDH Do?