The number of older adults relying solely on Medicare has increased significantly in recent years, largely due to a decline in the number of those also receiving private coverage. In 2017, only 4.9% of adults aged 65 and older had exclusive private coverage, compared to 15.2% who had dual coverage. By 2022, the percentage of older adults with Medicare coverage alone had increased to 10.1%, a significant increase from just 4.9% in 2017.
This trend suggests that more older adults are relying solely on Medicare for their healthcare coverage, indicating a shift away from supplementing Medicare with private insurance among this demographic. The decline in the number of individuals reporting dual coverage with Medicare has contributed to this trend, as many older adults may have previously supplemented their Medicare coverage with private insurance but have now decided to rely solely on Medicare.
Overall, this trend highlights the importance of ensuring that Medicare remains financially sustainable and able to provide adequate healthcare coverage for all Americans, particularly those who rely on it exclusively for their healthcare needs.