Older Americans are sliding into poverty

The supplemental poverty rate for older Americans has increased. Willowpix/Getty Images After a surge of pandemic-era aid, older Americans have faced rising poverty. Healthcare costs drive older Americans into poverty, straining their savings and finances. Social Security often isn't enough to cover costs, leading older Americans to take on low-paying jobs. After a slew of pandemic-induced aid ran its course, older Americans are falling back into poverty — and even younger would-be retirees are struggling. After the Great Recession, the trendline for older Americans had been improving, and 2020 pandemic relief measures helped buttress the aging population from falling into poverty in the wake of Covid. New census data shows that now, the poverty rate has increased the most for Americans 65 and older, after adjusting for things like tax credits and government programs.