Final answer:
The Medicare supplements open enrollment period begins on October 15th and ends on December 7th each year, providing an opportunity for Medicare beneficiaries to adjust their coverage. Established in 1965, Medicare covers a significant portion of the elderly population in the U.S. and involves various funding sources including taxes and premiums.
Step-by-step explanation:
The open enrollment period for Medicare supplements typically begins on October 15th and ends on December 7th each year.
This period allows those eligible for Medicare, which includes over 40 million people aged 65 and older as of the early 2000s, to review their current Medicare Advantage (Part C) or prescription drug (Part D) plans, and switch plans if they wish.
The elderly, as a demographic, have consistently shown political engagement, with 70% of those over age 65 having voted in the 2012 presidential election. Established as part of the Social Security Act of 1965, Medicare's funding includes a payroll tax for Hospital Insurance and premiums and general revenues for Supplementary Medical Insurance.