New National Elder Economic Security Standard Now Available

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The Gerontology Institute of the John W. McCormack Graduate School of Policy and Global Studies at the University of Massachusetts has just released a new, updated version of the National Elder Economic Security Standard Index report.

The index measures how much income a retired older adult requires to meet his or her basic needs-without public or private assistance. The measure is based on individuals 65 and older and living in the community, not in a institution.

The report highlights the growing cost of health care for the elderly across all states and estimates that a married couple must have between $29,448 and $32,204 to meet all expenses in the U.S. For a married elder couple in Pennsylvania without a mortgage, their yearly income should be about $29,916 with health care costing almost twice as much as other expenses.

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