Over 43 Million Americans Held Multiple Health Insurance Coverage in 2021
Elderly Adults and Low-Income Individuals Most Likely to Have Multiple Plans
A recent report on health insurance coverage in the United States for the year 2021 has shed light on an intriguing phenomenon - over 43 million Americans held more than one type of health insurance coverage. While the majority of the population relies on private health insurance, either through employers or government programs, a significant number of individuals found themselves with multiple plans. This was especially true for older adults, who often supplemented Medicare with privately purchased plans or employer coverage. Additionally, low-income families had a higher likelihood of having multiple coverage options, thanks to qualifying for both public and private health insurance options.
Adults 65 and Older Most Likely to Hold Multiple Coverage
The report revealed that adults aged 65 and older were the age group most likely to have multiple health insurance plans. For many elderly individuals, Medicare coverage was supplemented with private insurance acquired either directly or through their current or previous employers. This phenomenon affected more than half (51.9%) of adults in this age group, accounting for approximately 29.2 million people with multiple coverage. In contrast, the younger age groups of 19 to 64 years old and individuals under 19 had significantly lower rates of holding more than one type of health coverage, at 5.5% and 4.1%, respectively.
