Strengthen Women’s Health, Income & Retirement Security Now
Whereas; The demographic reality facing most older American women simply can’t be ignored. Women live longer than men, on average, yet their lifetime earnings are generally lower.
Whereas; The gender wage gap continues, meaning women earn only 82 cents for every dollar paid to their male counterparts. This wage gap increases for older women, with the median weekly earnings of women over age 65 totaling only 75 percent of men’s. Lower wages mean less is contributed to Social Security for their retirement leaving many older women to have to live longer on less.
Whereas; Women spend as much as 50 percent more time away from employment on caregiving duties, like raising children and caring for older relatives, when compared to men. Taking extended breaks from the workforce, combined with lower wages, leaves many women with smaller contributions to Social Security and fewer benefits when they retire.
Whereas; The poverty rate for older women is much higher than it is for older men. In 2018, 16 percent of women, 65 and older, lived in poverty compared to 12 percent of older men. Women aged 80 and older had the highest poverty rate among older women and men in all age groups. Clearly, the inequity women face in their working years continues to follow them even into
Whereas; Women are also more likely to suffer from three or more chronic conditions such as arthritis, hypertension and osteoporosis, making Medicare especially vital for older women. Out-of-pocket spending for women Medicare beneficiaries 65 and older is higher than men, increasing as they age. Total annual out-of-pocket health care spending for women in traditional Medicare was estimated to be $5,748 compared to $5,104 for men.
Therefore; I petition my Senators and Representative to pass legislation that would end the retirement and health inequity facing millions of American women and their families.