Shifting Away from Private Coverage: How Medicare is Becoming the Primary Healthcare Provider for Older Adults

In recent years, there has been a noticeable increase in the number of older adults relying solely on Medicare for their healthcare coverage. This trend is largely attributed to a decline in the number of individuals also receiving private coverage.

In 2017, only 4.9% of older adults had private coverage alone, while 95.1% had both private and Medicare coverage. However, by 2022, this percentage had decreased to 4.8%, with the majority of older adults now relying solely on Medicare for their healthcare needs (95.2%). This suggests that more older adults are shifting away from supplementing their Medicare coverage with private insurance and relying solely on the program for their healthcare needs.

While the percentage of older adults who exclusively had private coverage remained small and stable over time, it is clear that more people are choosing to rely solely on Medicare for their healthcare coverage. This shift could have significant implications for healthcare providers and policymakers, as it may require adjustments to be made to ensure that Medicare can continue to meet the needs of its aging population.