The trend of older adults relying solely on Medicare has increased in recent years, with a decrease in the number of those also receiving private coverage. In 2017, there was a significant difference in the percentage of adults aged 65 and older who only had Medicare coverage compared to those with both private and Medicare coverage. However, by 2022, the percentage of older adults solely relying on Medicare was higher than those with dual coverage, as fewer individuals reported supplementing their Medicare coverage with private insurance.
The percentage of older adults who only had private coverage has consistently remained small and stable over time, with only a slight increase from 4.9% in 2017 to 5.3% in 2022. This suggests that a majority of older adults are either solely relying on Medicare or have both private and Medicare coverage. As the number of older adults relying solely on Medicare continues to rise, it is important to understand the implications and challenges associated with this trend.