AARP New Jersey Applauds NJ Legislature for Strengthening the Health and Financial Security of Older New Jersey Residents

TRENTON, NJ (June 30, 2023) – AARP New Jersey Director of Advocacy, Ev Liebman, provided the following statement:

“AARP commends the NJ Legislature for passing several landmark bills today that will strengthen the health and financial security of older New Jersey residents, and help older residents remain in their homes and communities – where they want to be.

“AARP’s mission is to empower people to choose how they live as they age, and an important part of choosing how we live is being able to choose where we live. Seventy-seven percent of people 50 and older want to age in their own homes; however, New Jersey’s high cost of living – including the highest property taxes in the nation – has made it unaffordable for far too many.

“New Jersey’s affordability crisis has hit older residents who live on low, moderate and fixed incomes particularly hard. Forty-one percent of New Jerseyans age 50 and older have considered leaving New Jersey, with 83% of these residents saying they are likely to do so in search of lower taxes and a lower cost of living, and two out of three New Jersey voters 50 and older are concerned they will not be able to afford the medicines they need in the future. Too many Garden State residents are being forced to choose between life-saving medications and paying rent, buying food and meeting other critical needs.

“With the passing of these bills, the NJ Legislature has made a commitment to helping older adults remain in their homes and communities and a commitment to making New Jersey a great place where we can afford to grow up and grow older.

“We applaud the NJ Legislature for passing A1/S1 to establish StayNJ, which is a historic and transformational property tax relief program for older residents. StayNJ will provide a 50% tax credit of up to $6,500 for homeowners who are 65 and older with incomes less than $500,000. A1/S1 will also increase the ANCHOR Property Tax Relief Program benefit by up to $250 for eligible homeowners and renters 65 and older. A1/S1 also expands the Senior Freeze property tax relief program to those with incomes up to $150,000 and reduces the tenancy requirement from 10 years to three years. The assistance these programs provide is vital to keeping taxes manageable and fostering housing stability and affordability. We applaud Assembly Speaker Coughlin, Assembly Members Greenwald, Freiman, Swain, Moriarty, Wimberly, Lopez, McKnight and Tully and Senate President Scutari, Senators Gopal and Lagana for their championship of this bold property tax initiative that will make New Jersey more affordable for hundreds of thousands of older New Jerseyans.

“In addition to significantly expanding property tax relief for older residents, we commend the Legislature for expanding access to programs that make medications more affordable. A3/S3 will expand the income eligibility for two New Jersey pharmaceutical assistance programs, Pharmaceutical Assistance to the Aged & Disabled (PAAD) and Senior Gold. A3/S3 will not only expand the number of people who can benefit, but it also establishes a new Senior Save Navigator Grant Program. This program will recruit and train individuals who will then assist older residents with their applications and support applicants’ enrollment in the programs. This bill provides more older New Jerseyans with peace of mind, knowing that the drugs they need to stay healthy – and often to stay alive – will be affordable.  We commend Assembly Members Tully, Moriarty, Freiman, Quijano, Mukherji, Swain and Carter and Senators Vitale, Lagana and Zwicker for their leadership and commitment to ensuring older residents have access to affordable medications.

“We applaud the Legislature for standing up to big drug companies and increasing pricing transparency by passing A2840/S1615, which establishes a Prescription Drug Affordability Council. This panel of experts will examine pricing trends across the pharmaceutical supply chain and provide the Legislature with actionable recommendations on how to make prescription drugs more affordable. A2840/S1615 is a major step forward in understanding and responding to the skyrocketing costs of prescription drugs. We applaud Senator Troy Singleton and Assemblyman John McKeon for championing the legislation.

“Lastly, we support the Legislature passing A2839/S1614, which sets maximum out-of-pocket costs for insulin at $35 per month, epi-pens at $25, and inhalers at $50. This is an important step toward ensuring these life-saving medications are more affordable to the New Jerseyans who depend on them, including the more than 622,000 New Jerseyans who have diabetes. We commend Assembly Members McKeon, Karabinchak, Quijano, and Moriarty and Senators Vitale, Pou, Singleton and Greenstein for their work to ensure everyone has access to affordable life-saving medicine.

“AARP New Jersey will never stop fighting for the health and financial security of all New Jerseyans. We look forward to the Governor enacting this legislation, and we look forward to our continued work with the Governor and the Legislature to ensure a better New Jersey for everyone.”

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About AARP 
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also produces the nation's largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.