American Rescue Plan Improves Senior Health and Financial Security - Reverse Mortgage

The American Rescue Plan, signed into law by President Biden on March 11, includes critical relief to older adults in need as the nation continues to recover from the coronavirus pandemic. Nearly 30 million Americans have contracted COVID-19, with the death toll now surpassing 532,000. Eight in 10 deaths reported are adults aged 65+.

The $1.9 trillion relief package is a step forward in ensuring resources are targeted to the most vulnerable. The law is expected to contribute to greater economic stability—potentially reducing the adult poverty rate by more than a quarter and the child poverty rate by half. The National Council on Aging, which advocates for older Americans in Washington, DC, provided a detailed summary of the final package, including several of NCOA’s priorities.

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