Seniors Struggle to Afford Basic Needs as Costs Rise

From prescription drugs to housing, many retirees face financial insecurity

Published on Feb. 17, 2026

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Somewhere between 19 and 47 million seniors in the United States are struggling financially, with up to 80% of older households considered to be economically insecure or at risk of falling into poverty. One in three seniors in the U.S. have incomes below 200% of the federal poverty level, making it difficult to afford basic necessities like prescription medications, groceries, housing, transportation, and utility bills.

Why it matters

This growing crisis is impacting some of the most vulnerable people in society, as many retirees and older individuals feel embarrassed or afraid to speak up about their financial struggles. Ignoring this issue will only lead to deeper financial and health consequences for seniors, who deserve stability and dignity in their later years.

The details

Seniors are facing skyrocketing costs for prescription drugs, with many having to skip doses or delay refills due to unaffordable prices. Grocery bills have also become a major burden, forcing some to rely on cheaper, less nutritious food options. Rising rents, property taxes, and maintenance costs are pricing many seniors out of their long-time homes, leading to evictions and homelessness. Transportation costs for medical appointments and daily errands have also become prohibitive, causing some to skip important doctor visits. Utility bills, including electricity, heating, and internet, have become a major financial strain, leading seniors to make dangerous trade-offs to save money.

  • The problem of seniors struggling to afford basic needs has been growing rapidly in recent years.
  • Many retirees have noticed shocking increases in their prescription drug coverage and other essential costs.

The players

Melanie Musson

A financial expert who has observed the impact of rising prescription drug costs on baby boomers enrolled in Medicare.

Antwyne DeLonde

A financial advisor who has heard from many retirees about the challenges of affording groceries due to soaring food prices.

U.S. Department of Housing and Urban Development (HUD)

A government agency that provides various programs and assistance to help seniors with affordable housing, but is facing increasing demand for these services.

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What they’re saying

“Most baby boomers are enrolled in Medicare, and they've probably noticed shocking increases in their prescription drug coverage. Those types of increases are likely to continue, making Medicare Advantage and supplement programs too expensive for many baby boomers to afford.”

— Melanie Musson, Financial expert (yournews.com)

“I've heard this from so many retirees lately: grocery bills are just out of control. One client joked that fresh produce feels like a luxury item now. Many are having to switch to less expensive, but less healthy, food options to make ends meet.”

— Antwyne DeLonde, Financial advisor (yournews.com)

What’s next

The U.S. Department of Housing and Urban Development (HUD) is facing increasing pressure to provide more assistance for affordable housing options for seniors, as rising costs are forcing many out of their long-time homes.

The takeaway

This silent crisis affecting millions of older Americans deserves urgent attention, as ignoring the issue will only lead to deeper financial and health consequences for vulnerable seniors. By acknowledging the problem and taking steps to support seniors, communities can help ensure that every retiree has access to the basic necessities they need to live with dignity.