For Immediate Release                                                                         Contact:  Grace Egan

     August 4, 2010                                                                                       or Melissa Chalker

                                                                                                                       609-421-0206

NJ Foundation for Aging (NJFA) Salutes Social Security and Medicare

      Trenton—The New Jersey Foundation for Aging recognizes the essential support provided to more        than 1,054,870 seniors across NJ who received Social Security and Medicare.  This is equivalent 
     to 91.7 %  of all NJ residents over the age of 65.

    The average Social Security benefit in NJ is $1,040.  The payments can be as low as $600/mo.
    This only partially covers their living expenses, which averages well over $2,100 a month for
    single senior living in a one-bedroom apartment. Social Security helps seniors to meet their
    basic needs.  It is a misconception that those receiving Social Security live well.  NJFA conducted
    a study in 2009, the NJ Elder Economic Index,  that illustrated the costs for a single senior living 
    in a one-bedroom apartment is $25,941 annually.

    As we celebrate the 45th birthday of Medicare, NJ Foundation for Aging applauds the
    program’s longevity and celebrates its critical role in providing health care coverage to
    New Jersey’s elders. With the nation’s health care system in the midst of major reform, there
    is no better time to emphasize the importance and success of Medicare in helping keeping
    seniors healthy and solvent. Medicare is crucial to seniors’ economic security, but more can
    be done to ensure elders and their families are not overburdened by out-of-pocket
    health care expenses. Contrary to the myth that Medicare recipients do not really have to
    pay for health care, seniors do pay a premium for Part B and often have additional costs
    including supplemental coverage to Medicare, resulting in significant co-pays, premiums
    and deductibles. These costs average $4,968 annually.  In the NJ Elder Index, health care is the
    second highest expense for elders in good health after their housing costs. 

   As we look to the future, we must be sure that we have in place public benefit programs that
   provide a boost to low-income families so that they do not age into poverty due to costly housing
   and health care expenses.  

    To review the NJ Elder Index & the Policy Brief go to www.njfoundationforaging.org/issues.html

    To learn more about the work of the NJFA visit www.njfoundationforaging.org. The New Jersey Foundation
    for  Aging was established in 1998 to empower seniors to live in the community with independence and dignity.

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