KFF November 16, 2022
Medicare beneficiaries may choose to receive their Medicare benefits through traditional Medicare or a Medicare Advantage plan offered by a private health insurance company. Over the past 15 years, the share of Medicare beneficiaries enrolled in Medicare Advantage plans has more than doubled, approaching half of the total Medicare population. One reason for the growth in Medicare Advantage enrollment may be that virtually all plans offer extra benefits not available in traditional Medicare, including coverage of vision (eyeglasses and/or eye exams), hearing (exams and/or aids), fitness, and dental services.
Firms that sponsor Medicare Advantage plans have the ability to determine what, if any, extra benefits to offer, and these decisions may be made with the goal of attracting and retaining...
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