Economic Security
Americans are living longer and healthier lives. Many older Coloradans live on fixed incomes, which can make it hard to afford rising healthcare costs, ensure retirement income keeps up with the cost of living and make savings last as we live longer. Colorado seeks to prioritize the financial security of older adults in order to promote independence and wellbeing. We recognize the need to support Colorado’s missing middle: community members whose income and assets are inadequate for self-sufficiency but still exceed the threshold to qualify for Colorado Medicaid and prioritize resources to help financially prepare Coloradans for retirement. Resources such as the Secure Savings Program, right-sizing and fully funding Public Employees Retirement Association (PERA), and supporting policy to bolster employer mandated retirement saving programs have helped prioritize the economic security of all older Coloradans.
Additionally, assistance programs for older adults after retirement can provide a safety net for older Coloradans struggling to make ends meet. Programs such as Old Age Pension (Google Doc) can be used to bolster the pockets of older Coloradans and universal basic income projects can help cover necessities such as housing, transportation, food and medications.
Improving Benefits Access Processes
By empowering systems like PEAK and My Friend Ben, Colorado can help streamline the process of identifying benefit eligibility. By streamlining the application process for local, state and federal benefits, Coloradans could more easily access the resources to which they are entitled.
Improving Food Security for Older Adults
Nine percent of Coloradans over the age of 60 report food insecurity. Innovative partnerships among health systems, food pantries and public benefits can improve food access. Colorado is working to improve Supplemental Nutrition Assistance Program (SNAP) benefit timeliness with county partners. There are several highly efficient food banks, food pantries and safety net programs across the state. By replicating these programs and building larger economies of scale, we have the opportunity to ensure older Coloradans do not go hungry. Colorado seeks to improve food and nutrition benefits access and advocate for local and national policy to secure nutrition funding and resources to support food insecure older Coloradans.
The MPA's Five Strategic Goals
Colorado’s Multi-Sector Plan on Aging outlines five strategic goals to guide priorities over the next 10 years. These goals are accompanied by targeted strategies and initiatives designed to mobilize resources, drive policy changes and measure our progress.
Did you know ...
- Middle-income older adults often earn too much to qualify for Medicaid but can’t afford long-term care. Colorado is exploring solutions to bridge this gap.
- Colorado is improving how food assistance applications are processed so older residents receive benefits like SNAP with fewer delays and paperwork challenges.
- Colorado’s Secure Savings Program helps private-sector workers without retirement plans save money automatically through their paycheck, increasing long-term financial security.