Health Care and Seniors – Inside The Numbers

• Eleven million seniors are still subject to rising premiums. Those affected are new enrollees in Part B, high earners, and seniors who are delaying receipt of Social Security benefits. Premiums for Part B increased by a staggering +72% between 2000 and 2005.
   
• Social Security represents half or more of total income for 67% of beneficiaries, and for 33% of beneficiaries, Social Security represents 90% or more of total income.
  
• Social Security provides 45% of income for seniors in the second-highest income quintile, and 18% in the top 20%.

• The average annual Social Security benefit for retirees in January 2009 was $13,900. By comparison, the federal poverty guideline level for a single person is $10,830 a year, and the recommended income to meet basic expenses as a retired homeowner (as calculated by the Elder Economic Security Index) is $16,300.

Source: The Economic Policy Institute