Elderly economic security gap: $8,020
Median elder income: $19,580 (7th highest)
Annual cost of comfortable living for an elder: $27,600 (3rd highest)
Life expectancy in years: 80.2 (5th longest)
Housing costs per month: $1,004 (5th highest)
Health care costs per month: $430 (6th highest)
Costs for all Connecticut residents, regardless of age, are in the top 10 for every measured category, including transportation, health care and utilities, according to MERIC’s cost of living report for Q4 2011. These costs are a heavy burden on the state’s retired citizens, as well. Connecticut’s seniors make $19,580 a year, the seventh-highest income in the country. However, the minimum income required to meet basic needs is $27,600, the third highest in the U.S., according to WOW’s Economic Security Database. The difference amounts to more than $8,000 each year.
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