In recent years, the percentage of older adults relying solely on Medicare has increased significantly. This shift is largely attributed to a decline in the number of those also receiving private coverage. In 2017, only 54.1% of adults aged 65 and older had both private and Medicare coverage, while by 2022, this number had decreased to 50.8%.
On the other hand, the percentage of older adults with Medicare coverage alone has steadily increased. In 2017, only 49.9% of older adults had exclusive Medicare coverage, but by 2022, this number had risen to 54.8%. This suggests that more older adults are relying solely on Medicare for their healthcare needs.
Despite this trend towards exclusive Medicare coverage, the percentage of older adults who exclusively had private coverage remained small and relatively stable over time. In 2017, only 4.9% of older adults reported having private coverage alone, while in 2022, this number remained unchanged at 5.3%. However, it’s important to note that these numbers may vary depending on factors such as geographic location and income level.
Overall, this shift away from supplementing Medicare with private insurance among older adults is a significant change in healthcare coverage trends and may have implications for future healthcare policy decisions.