Individuals aged 65 and over are eligible for various types of health insurance coverage, including Medicare and private insurance. Private insurance is also available to seniors, which can provide additional coverage for services not covered by Medicare such as vision care, hearing aids and long-term care. Depending on the individual's financial situation and health needs, either type of insurance or a combination of both may be an ideal option for someone over 65 years old.

During the Annual Election Period, individuals with both Part A and Part B of Medicare are eligible to enroll in a Medicare Advantage Plan or a Medicare Supplement Plan. Starting in 2021, the premium for Part B is $148.50 per month, an amount that is subject to change depending on inflation and other factors.