![]() The Low Income Home Energy Assistance Program (LIHEAP) is a federal program through the U.S. 2022 CPI report, electricity prices have increased 9% since February 2021. Energy Information Administration, households spent an average of $117 per month in 2020 on home energy costs, although prices vary by state Connecticut, for example, had an average monthly energy bill price of $162, whereas District of Columbia residents paid $89. Seniors Are Eligible for the Low Income Home Energy Assistance Program (LIHEAP)Įnergy costs can easily become a major financial burden on low-income households. While they may not be enough to fully bridge the financial gulf, they can be a lifeline for struggling seniors. There are many programs to help seniors with everything from medication to food to energy. Now, record-high inflation is eating into their already-limited incomes. In 2019 alone, 8.9% of seniors had income below the poverty thresholds, according to a 2021 report from the Congressional Research Service. That means in one year, many of the nation’s elders received a little less than $20,000 as their single largest source of income.Īs a result, many senior citizens struggle to get by financially. The estimated average Social Security benefit for retirees is $1,657, according to the Social Security Administration (and that’s after an atypically high COLA increase). That increase is a blow to the already-low fixed incomes many older Americans live on. ![]() According to the Bureau of Labor Statistics’ (BLS) consumer price index report (CPI), prices for goods and services were up 7.9% in February compared to the same time last year. Supply chain issues, the Russian invasion of Ukraine and spiking demand for goods has caused prices to skyrocket nationally. ![]() Inflation is squeezing consumers’ wallets-and older Americans living on fixed incomes feel it the most. ![]()
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