NCOA Awarded Grant from The Retirement Research Foundation to Provide Economic Check Ups for Vulnerable Older Adults
Grant Will Bring Strong Focus to Comprehensive Economic Needs of Disadvantaged Seniors
The Retirement Research Foundation (RRF) has awarded a $1.125 million dollar grant over 3 years to the National Council on Aging (NCOA) to develop a free online tool, called EconomicCheckUp, that will assist millions of struggling older adults. The Foundation’s timely support will also allow for critical investments in the evaluation of NCOA’s multi-site direct service Economic Security Initiative.
Today, 1 in 3 older adults lives in or on the edge of poverty. The economic recession has hit these seniors hard, and a lifetime of work has turned into a daily struggle to stay healthy and make ends meet.
By utilizing EconomicCheckUp, community organizations participating in NCOA’s national Economic Security Initiative can outline a plan to help vulnerable older adults obtain benefits to pay for costs such as prescriptions, utilities and food, and provide them with a path to future economic well being through debt management, housing assistance, money management, employment opportunities, and more.
EconomicCheckUp will build upon NCOA’s successful BenefitsCheckUp® portal (www.BenefitsCheckUp.org) which helps seniors identify federal, state, and local benefits for which they are eligible. Over the last 10 years, BenefitsCheckUp has connected 3 million seniors with over $10 billion in needed benefits.
“With limited income, many low-income seniors struggle to pay for out-of-pocket medical expenses, utility bills, food, and housing costs,” said Sandra Nathan, senior vice president for economic security at NCOA. “Thanks to the leadership of The Retirement Research Foundation, NCOA will make available to all seniors and their caregivers an online tool that looks at all economic needs at once, helping vulnerable seniors identify the resources available to them to find a path back to safety and security, and remain a vibrant part of their community.”
“We are deeply committed to economic security for all older adults,” said Irene Frye, executive director of The Retirement Research Foundation. “This opportunity allows NCOA to give vulnerable seniors a comprehensive assessment of their economic situation and summarize the range of options that best meets their needs. We are extremely pleased to help bring this much needed program to fruition.”
For additional information on NCOA’s national Economic Security Initiative and current efforts in 14 communities, please visit www.NCOA.org/EconomicSecurity. Funding for the initiative was originally provided by the Harry and Jeanette Weinberg Foundation and Bank of America Charitable Foundation.