Dollars & Sense: Medicare’s alphabet soup – making sense of your coverage

What to Know:Medicare open enrollment runs October 15 through December 7.Medicare coverage comes with premiums, deductibles, and other costs.Higher-income recipients may face additional Medicare surcharges.ORLANDO, Fla. – Medicare’s annual open enrollment period is underway, giving millions of Americans an opportunity to review their health insurance coverage and make changes for the coming year. But with different plans, premiums, deductibles, and coverage options to consider, navigating Medicare can be confusing, especially for those trying to determine whether their current coverage still meets their needs and their budget.And if you’re new to Medicare, simply understanding the different parts of the program can feel like learning a new language.While Medicare provides health insurance for more than 70 million Americans, it isn’t free. Depending on the coverage you choose and your income, the costs can add up, sometimes in ways you might not expect.CBS News Business Analyst Jill Sch