In addition, the survey found that:
- Almost two-in-three seniors (65 percent) estimate their expenses increased by at least $80 per month in 2009
- 45 percent of seniors cut back on visits to the doctor or hospital outpatient services
- 38 percent postponed filling a prescription or took less than prescribed
- 47 percent had trouble covering their heating, cooling, or electric bills
Social Security checks are lower since many seniors have their Medicare Part D or Medicare Advantage premiums automatically deducted; some may also have been affected by significantly higher Medicare Part B costs.
But those deductions do not typically lower overall Social Security checks for most seniors since they receive an annual Cost of Living Adjustment (COLA). However, seniors failed to receive a Cost of Living Adjustment in 2010 for the first time since the Automatic COLA was introduced in 1975.
"Although the economic downturn has been tough for many Americans, few groups have been as hurt as our nation's seniors," said Daniel O'Connell, chairman of The Senior Citizens League. "Too many seniors are no longer living on a fixed income, but rather a shrinking income."
Almost 70 percent of beneficiaries depend on Social Security for 50 percent or more of their income. Social Security is the sole source of income for 15 percent of beneficiaries.