Medicare and Social Security are crucial components of retirement for many New Yorkers. Changes to these programs being discussed in Washington could include raising the Medicare eligibility age and/or changing the formula for the cost-of-living adjustment.
Current and future retirees in our state deserve more. Changing these programs could negatively impact the health and retirement security of New York seniors and future generations.
In New York state, 2.4 million seniors receive Social Security for an average annual benefit of $14,600. Social Security makes up about 58 percent of the typical older New Yorkers income, lifting 32 percent out of poverty.
President Obama and Congress need to have an open discussion with constituents on what these programs mean in the community and offer solutions that protect the health and retirement security of seniors and future retirees.