Types of health insurance:
Medicare
Ready to learn about Medicare?
Great! I’m going to help guide you through some of the major things you should know.
Medicare is...
Medicare is the US government health insurance program for people aged 65 years or older. People younger than age 65 with certain disabilities or permanent kidney failure may also qualify for Medicare. Medicare has four programs or “parts”: A, B, C, and D. Each part offers a different type of coverage.
The 4 parts of Medicare
Each “part” of Medicare offers a unique type of coverage. Learning about each part will help you understand what your options are. Click on each tile to find out more.
Part A
Part B
Part C
Part D
If you’d like more information about Medicare, please visit: https://www.cms.gov/Medicare/Medicare or call (877) 267-2323
The Medicare Extra Help Program
Extra Help helps people with Medicare pay for prescription medications and lowers the costs of Medicare prescription medication coverage. It is also known as the Low-income Subsidy (LIS).
Depending on your income, assets, and resources, you may qualify for either full or partial Extra Help. Full Extra Help pays a greater amount for prescription costs than partial Extra Help:
Full Extra Help
No monthly premium (the fee you pay for your health insurance plan)
No annual deductible (the amount you pay for health care services before your insurance plan starts to pay)
No copay ($0) if you live in a nursing home (a copay is a set amount, or flat fee, that you pay for a health care service. It is usually paid when you receive the service)
- No monthly premium (the fee you pay for your health insurance plan)
- No annual deductible (the amount you pay for health care services before your insurance plan starts to pay)
- No copay ($0) if you live in a nursing home (a copay is a set amount, or flat fee, that you pay for a health care service. It is usually paid when you receive the service)
Partial Extra Help
A sliding-scale premium based on income
An annual deductible of $85
Up to 15% coinsurance until the out-of-pocket threshold is met
- A sliding-scale premium based on income
- An annual deductible of $85
- Up to 15% coinsurance until the out-of-pocket threshold is met
If you are enrolled in Extra Help, the cost you pay for prescriptions is capped at amounts set by the government. Extra Help could help you save thousands of dollars per year.
PRO TIP: If you have Medicare and Supplemental Security Income (SSI), or Medicare and Medicaid, you automatically will get the benefits provided by Extra Help. So you don’t need to put in an additional application for the Extra Help program.
PRO TIP: If you have Medicare and Supplemental Security Income (SSI), or Medicare and Medicaid, you automatically will get the benefits provided by Extra Help. So you don’t need to put in an additional application for the Extra Help program.
Are you interested in applying for Extra Help?
You can start an application at the US Social Security Administration website or call (800) 772-1213 or TTY (for those with hearing impairments) (800) 325-0778.
Additional information
From Novo Nordisk
Novo Nordisk may be able to assist you if you need help affording your prescriptions.
From the government
In 2022, the Inflation Reduction Act was passed. It protects Medicare by phasing in a cap for out-of-pocket costs and establishing a $35 cap for a month’s supply of insulin, changes that become effective in 2025.