Poverty Cuts Lifespan of Older Americans, Study Finds

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In the United States, poverty doesn’t just impact bank account balances; it also significantly reduces life expectancy, especially among older adults.

A recent study conducted by the National Council on Aging (NCOA) and the University of Massachusetts, Boston, revealed that individuals aged 60 and above with the lowest incomes tend to die approximately nine years earlier than their wealthier counterparts.

NCOA President and CEO, Ramsey Alwin, highlighted the devastating impact of poverty on older Americans’ lives, stating, “Poverty robs older Americans of nearly a decade of life. Many hardworking individuals are passing away prematurely simply due to inadequate financial resources.”

The study also found that not only low-income households but also the bottom 60% of older Americans by wealth had mortality rates nearly double those of the wealthiest 10%.

According to data analyzed by Money from the World Health Organization, the five-year mortality rate for Americans aged 60 and older is 16.7%. Individuals with incomes below $30,000 have death rates similar to those of older citizens in countries like Cuba, Iraq, and Venezuela, hovering around 20%.

Disparities in life expectancy have long existed in the U.S., with a report from the Senate Health, Education, Labor, and Pensions (HELP) committee revealing that as of 2023, Americans die four years younger than individuals in comparable countries. Moreover, within the U.S., the wealthiest 1% of Americans live seven years longer than the bottom 50% of earners.

Escalating Disparities in Mortality Rates

The research conducted by NCOA indicates that the gap in life expectancy between the wealthiest and poorest older Americans is widening. The analysis spanning from 2018 to 2022 sheds light on how the COVID-19 pandemic exacerbated inequalities.

During this period, the net worth of Americans in the bottom 60% declined, along with their median age, reflecting the disproportionate negative impact of the pandemic on the longevity and wealth of most individuals.

Conversely, the wealth of the top 20% of Americans surged, with the net worth of this group increasing from $1.8 million in 2018 to $2.5 million in 2022, while their median age rose from 73 to 74 despite the pandemic’s toll.

The researchers caution that the majority of older adults are facing financial challenges or are at risk of falling into poverty, particularly concerning long-term care costs. Policy changes such as new Medicaid work requirements and the expiration of Affordable Care Act subsidies are projected to result in approximately 15 million Americans losing their health insurance coverage, further exacerbating the trend.

Looking ahead, the researchers predict a future marked by widening inequality in financial status and mortality, deepening the divide between the majority of older Americans and the top 20%.