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Media Contact:
Eileen Philbin
Executive Director, American Senior Benefits Association
877-906-2722
eileen.philbin@asbaonline.org

ASBA Launches New Advocacy Resource for Baby Boomers

Non-Profit Association gives Boomers necessary support for their evolving needs: US Population in 2006 was 300 million, with Baby Boomers representing 77 million, or 25% of population (US Census Bureau.)

Chicago, IL. - October 29, 2007 The American Senior Benefits Association (ASBA), a not-for-profit organization committed to maximizing lifestyle potential for adults 50 years of age and older, today announced an exceptional new way to inform, empower, and promote enjoyment for pre-retirement and retirement life stages through a unique approach. ASBA was founded to be a support tool for the largest cultural population America has ever experienced.

Formerly operating as the American Small Businesses Association, ASBA has now refocused and expanded its mission and vision to support the emerging Baby Boomer demographic.

The Baby Boomer tidal wave is here, and with it specialized needs, it requires a knowledgeable voice. According to the US Census Bureau projections, 7,918 people turned 60 each day in 2006, which amounted to 330 every hour.

  • The Average annual expenditures on health care in 2004 for people ages 45 to 54 was $2,695- the age group that is the heart of the baby boom generation. When budgeting medical expenses, Baby Boomers should expect increased health-care spending as they age; for instance, those ages 55 to 64 spent $3,262 and those 65 and over, $3,899. (Source: Bureau of Labor Statistics at http://www.bls.gov/cex/2004/Standard/age.pdf). These costs are expected to continue rising.

  • There are 2.1 workers for each Social Security beneficiary in 2031, when all baby boomers will be over age 65. Currently, there are 3.3 workers for each Social Security beneficiary. (Source: Social Security Administration, at http://www.ssa.gov/pressoffice/basicfact.htm)
No other population in United States history has ever impacted consumer spending, healthcare and legislation to this same degree. These impacts are important not only to Boomers, but the remainder of the population as well, and require a resource dedicated to observing, communicating and advocating said impacts.

"We are excited about the opportunity to be a resource for the largest population in American history," said Bill Hill Sr., President and CEO, ASBA. "With so many issues and questions like healthcare, social security and retirement facing Baby Boomers today, they need an alternative resource, one that is in their corner."

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About ASBA

The American Senior Benefits Association (ASBA) is not-for-profit organization that has a solid history with over 200,000+ members and growing. ASBA is committed to maximizing lifestyle potential for adults 50 years of age and older.

ASBA is unique — current 12-month membership is free — and it provides members with first class educational and consumer programs designed exclusively for its members. Members receive legislative updates, scholarship grant applications for grandchildren, newsletters and access to other lifestyle, financial and educational programs and offers built around the issues that matter most. More information is available at www.asbaonline.org.



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