Medicare is the federal health insurance program for people age 65 and over and younger adults with long-term disabilities. The program helps to pay for medical care services, including hospitalizations, doctor visits, prescription drugs, and some additional services. Those eligible may choose traditional Medicare or a Medicare Advantage plan, which is administered by a private health insurance company. Each year, Medicare beneficiaries have an opportunity to make changes to how they receive their Medicare coverage during the nearly 8-week annual open enrollment period that runs from October 15th to December 7th. People may prefer traditional Medicare if they want the broadest possible access to doctors, hospitals and other health care providers but Medicare Advantage may provide extra benefits, such as coverage of some dental and vision services, and lower costs, so it is important to review your options. Keep reading for a detail overview of the differences.
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