Medicare - Demographics
In 2017, 45.6% of people on Medicare was male, and 54.4% were female, 47.8% were between 65 and 74 years. Around 75% of the people on Medicare in 2017 were white.
DEMOGRAPHICS OF PEOPLE ON MEDICARE
The demographics of people on Medicare are provided below in terms of age, gender, income, education level, marital status, race/ethnicity, and area of residence.
- In 2016, over one-third of people receiving Medicare benefits were aged 75 years and older and about one in six beneficiaries (16%) qualified for coverage before turning 65 years, based on permanent disability. These individuals tend to have lower incomes and higher rates of health problems than older beneficiaries, including cognitive impairments and limitations in activities of daily living.
- Many Medicare beneficiaries are between the ages of 65 and 67 years.
- In 2016, nearly 9.2 million beneficiaries were between the ages of 65 and 67 years—over 16% of the Medicare population.
- By the end of 2017 Medicare beneficiaries under 65 years constituted 15.5% of the Medicare population, 47.8% were between 65-74 years, and 36.7% were 75 years or older.
- As of 2016, 45% of the Medicare population was male, and 55% were female.
- By 2017, 45.6% of the Medicare population was male, and 54.4% were female.
- Many beneficiaries live on modest incomes. Half of them have incomes less than two times the federal poverty level ($26,200 in 2016).
- Many beneficiaries have limited financial resources. In 2016, One in four had less than $14,550 in total savings (i.e., retirement accounts and financial assets) in 2016.
- In 2017, 40.5% of beneficiaries had less than $25,000 and 59.5% had $25,000 or more.
- According to a 2017 report, in 2013, 20% of Medicare beneficiaries had no high school diploma, 27% had high school diploma only, and 52% attended some college or attained higher levels of education.
- Since 84.5% of Medicare beneficiaries are older than 65 years, 13.7% have bachelor degree as their highest degree.
- About 75% of people on Medicare are white. Therefore, as of 2017, the education level in for white people in the US is given as; high school diploma (25.8 %), bachelor's degree (22.3%), master's degree (9.5 %), professional degree (1.5 %), and doctorate (2%).
- As of 2017, the living arrangement of Medicare beneficiaries was distributed thus; living alone (29.4%), spouse only (39.1%), spouse and others (11.5%), children only (6%), children and others (4.1%), others only (5.9%), and living with non-relatives (4%).
Area of Residence
Your research team began its search by trying to find resources that credibly and directly provide the demographic profile of people on Medicare. In attempting to locate this answer, the started went over Medicare's official website to get any statistics on the typical people on Medicare. Also, the team conducted exhaustive research through national databases/portals and industry-related committees, organizations, and associations. In pursuit of this strategy, the team checked the databases of the Bureau of Labor Statistics (BLS), Census, KFF, AARP, and Data USA, among others. Also, the team conducted exhaustive research across statistic portals/databases and trusted media articles from Bloomberg, Statista, Deloitte, and IBIS World.
These inquisitions led the team to some requested demographic data on such as age and the income AARP. On KFF, the team obtained data for gender, race, income, and marital status. The requested data for education level was, however, unavailable. On MedPac, the team found a report published in 2017, which showed the education level for people on Medicare as of 2013.
To locate a more recent answer in terms of the education level, the team decided to change gears and use the information found before to triangulate the requested data. Since at the end of 2017, 15.5% of people on Medicare were under 65 years, 47.8% were between 65 and 74 years, and 36.7% are 74 years or older. The team calculated that 84.5% (47.8+36.7) are older than 65. Then, your research team assumed that this age group's demographic can be applied for people on Medicare. To find the education level for people on Medicare, the team looked for the education level of people older than 65 years by going through governmental databases/portals, as well as industry-related committees and associations. The team found a report showing that 13.7% of this age group (65+ years) have a bachelors degree as their highest degree.
Additionally, since 75% of people on Medicare are white, your research looked for the education level of white people assuming that this group's demographic could be applied to people on Medicare. By checking national databases such as Census, the team obtained the education level of white people in the US as of 2017
Therefore, since this group represents 75% of people on Medicare, your research team assumed that this breakdown applies for them as well.