From Business Insider · Juliana Kaplan · · 1m 30s
Older Americans sink into poverty as aid ends
Pandemic relief has worn off and healthcare costs are pushing millions of Americans 65 and older below the poverty line.
In brief
Pandemic relief has worn off and healthcare costs are pushing millions of Americans 65 and older below the poverty line. Poverty among Americans 65 and older rose from 9.4% in 2020 to 15.4% in 2025, driven by healthcare costs and inadequate Social Security benefits. Originally reported by Business Insider.
Poverty surges for older Americans
New census data shows poverty among Americans 65 and older jumped from 9.4% in 2020 to 15.4% in 2025, the largest increase of any age group.
Social Security keeps millions afloat
Social Security kept 28.8 million Americans out of poverty in 2025, including nearly 21 million Americans 65 and older, but benefits often don't cover all costs.
Medical bills push millions into poverty
Around 2.5 million Americans 65 and older fell into poverty due to medical expenses in 2025, up from 2.36 million in 2024, as healthcare costs mount.
Nursing home costs drain savings
The median cost of a private nursing home room rose from 111,000 dollars annually in 2022 to 130,000 dollars in 2025, leaving many families financially devastated.
Older workers struggle in low-wage jobs
Rebecca Reed, 88, works two lower-paying jobs in New Orleans. She said, "We should get tax breaks after a certain age because prices are so high for food."
“We should get tax breaks after a certain age because prices are so high for food.”
Homelessness rises among older Americans
Older Americans are the fastest-growing demographic experiencing homelessness, with about 20% of all people experiencing homelessness 55 and older as of 2024.
What it means
Poverty among Americans 65 and older rose from 9.4% in 2020 to 15.4% in 2025, driven by healthcare costs and inadequate Social Security benefits.
