Source: CFPB analysis of the Census Bureau, Survey of Income and Program Participation 2021, public use files.
Older adults with insurance coverage account for an increasing proportion of the unpaid bills. While reporting unpaid medical bills is more common among the uninsured (13 percent) and those with Medicare-only coverage (11 percent) or other single source of insurance (13 percent), reports of unpaid medical bills persist even among those older adults with more comprehensive coverage provided either through managed care Medicare Advantage plans or an additional source of health insurance coverage such as Tricare, Medigap plans, employer-based coverage, and Medicaid.26 These sources help protect older adults from medical expenses by closing Medicare coverage gaps such as hearing, vision, or dental care, and/or reducing or eliminating out-of-pocket costs.27 These sources also provide additional coverage to approximately 80 percent of Medicare beneficiaries.28
Overall, 6 percent of older adults with an additional source of insurance coverage report unpaid medical bills, but the percentage varies for those with supplemental coverage provided through employers or former employers (4 percent), Medicaid (10 percent), or Tricare (8 percent).29 Among older adults in Medicare Advantage, 7 percent report unpaid medical bills.30 Older adults with additional coverage from these sources account for nearly 70 percent of older adults reporting unpaid medical bills in 2020.31
FIGURE 2
Percentage of older adults reporting unpaid medical bills by selected sources of coverage, December 2020
Source: CFPB analysis of the Census Bureau, Survey of Income and Program Participation 2021, public use files.
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