Readers' Mail: It Costs More To Be An Elder In America

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Readers' Mail: It Costs More To Be An Elder In America

A Cost-Of-Living Adjustment for Social Security recipients is now under study in Congress. Elders incur rising costs in the usual market basket of goods underlying the Consumer Price Index; additionally, it just costs more to be an elder in American society. Along with the higher food, rent, prescription drugs, and health insurance premium costs, elders must spend money on:

Vitamin and diet supplements, such as Ensure(r)
Non-prescription medicines, such as pain medicine for arthritis
Incontinence supplies
Home health care
Elder day care
Legal services, for living wills, home sales, power of attorney, wills, and trusts
Tax return preparation

Elders frequently have to hire necessary services they formerly performed for themselves:

Painting the house or apartment
Mowing and trimming the lawn, routine gardening
Housecleaning and washing windows
Washing and waxing the car
Making small home repairs and improvements
Cleaning drains and gutters
Anything using a ladders such as changing light bulbs

These factors should be borne in mind when deciding whether to establish a different cost-of-living index for elder citizens than for younger ones.-John T. Goldthwait, St. Augustine Beach, FL

This article first appeared in Volume 5, Issue 2 of "The Social Security and Medicare Advisor" newsletter (December/January/2000). To receive future editions of "The Advisor" in its special, free e-mail version, please click here.