What does elder economic security mean for New Jersey?

Our New Jersey partner, the New Jersey Foundation for Aging blogs today about the great service programs in their state that help move elders toward economic security.

The New Jersey Foundation for Aging (NJFA) will be releasing the New Jersey Elder Economic Security Initiative (NJ-EESI) next week. In preparation for these events, we have reached out to many stakeholders who share our concerns for Economic Security for people of all ages.

In these difficult economic times, it is easy to see how “aging into poverty” will become a serious issue. With the launch of the Initiative, NJFA is encouraging many people to advocate for economic security. We hope that legislators and policy makers will see the need to use the Elder Index as a bench mark for program eligibility. NJFA wants seniors themselves to see this data and become aware of support programs that they may qualify for. Furthermore, we hope all citizens of New Jersey will access the data and be proactive in advocating for, not only the economic security of seniors, but also for all generations.

There are many great programs to be commended in New Jersey, such as the Global Options Medicaid Waiver program and the Property Tax Reimbursement (Senior Freeze) program. There are also many valuable programs that can be expanded and made more accessible to seniors and intergenerational households. NJFA will continue to advocate for any supports that can help elders to close the gap. One in four seniors in NJ rely solely on Social Security as income, at an average of $14,285, that leaves many elders in a position where they may have to cut spending on food or medication. The stakeholders involved with NJ-EESI believe that elders deserve to age with dignity.