The percentage of adults age 65 and older covered by both private health insurance and Medicare decreased from 47.9% in 2017 to 39.6% in 2022, reflecting older adults’ increased reliance on Medicare coverage alone.
Dual coverage rates decreased almost every year during that period, except from 2020 to 2021, while rates of Medicare coverage alone significantly increased during the same period, from 37.6% to 44.8%, according to a new analysis of data from the 2023 Current Population Survey Annual Social and Economic Supplement (CPS ASEC).
Similar to overall coverage rates for adults age 65 and older, all age groups within this population experienced decreases in dual private and Medicare coverage and increases in rates of Medicare coverage alone from 2017 to 2022.
Much of the increase in the share of older adults relying solely on Medicare was driven by a drop in the share of those also receiving private coverage.
In 2017, the percentage of adults age 65 or older who only had Medicare coverage was 10.3 percentage points lower than the percentage of those with both private and Medicare coverage. By 2022, the percentage with Medicare coverage alone was 5.2 percentage points higher than the percentage with dual coverage as fewer older adults reported supplementing their Medicare coverage.
The percentage of older adults who only had private coverage is small and has remained stable over time (4.9% in 2017 to 5.3% in 2022).
Most adults age 65 and older qualify for Medicare coverage, the main reason coverage rates in that age group were 98.9% in 2022. A small percentage of them (9.2% in 2022) have additional types of public health insurance through the government besides just Medicare.
Some adults in that age group who are covered only by Medicare also choose to supplement it with private health plans. These plans offer additional medical benefits or a reduced cost for medical treatment.
The decline in private health coverage that occurred from 2017 to 2022 may affect the quality of medical care as well as access to providers for people in this age group.
Similar to overall coverage rates for adults age 65 and older, all age groups within this population experienced decreases in dual private and Medicare coverage and increases in rates of Medicare coverage alone from 2017 to 2022:
Because many people get private health insurance through an employer, adults age 65 and older who still work may find it easier to source affordable private coverage. However, the percentage of older adults with dual private and Medicare coverage decreased across all employment statuses from 2017 to 2022, while the rates of Medicare coverage alone increased:
More information on confidentiality protection, sampling error, nonsampling error and definitions is available in the technical documentation. All comparative statements in this article have undergone statistical testing and, unless otherwise noted, all comparisons are statistically significant at the 10% significance level.
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