Poverty on the increase

Posted on: Tuesday, November 15, 2011

A new study released by the U.S. Census Bureau reveals that poverty is growing in America, particularly among the elderly.

As detailed by The Associated Press, when taking age into consideration, the largest increase in poverty was found among Americans age 65 or older, doubling to nearly 16 percent.

The study also found that people who received Medicare spend three times more of their household budget on health expenses compared to households that were not on Medicare.

Sandra Nathan, senior vice president for Economic Security at National Council on Aging, commented on the findings.

"We've seen more and more older adults falling behind and really struggling to catch up," said Nathan. We have tested solutions that can help - increased access to benefits, employment and training assistance, better self management of health issues - but we need more systemic change ... to help make these increased poverty numbers head back in the other direction."

For insurance agents selling supplementary health plans, this study may be worthy of note, as it details where motivated insurance leads can be found.

Posted In: Insurance News, Health Insurance

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