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• Extra Help (Low-Income Subsidy) for Part D

  Extra Help, also called the Low-Income Subsidy (LIS), is a federal program that helps people with limited income and resources pay for Medicare Part D prescription drug costs — including premiums, deductibles, and copayments. Many people who qualify never apply.

• Medicare Enrollment Periods (IEP, AEP, OEP, SEP)

  There are several Medicare enrollment periods, and missing the right one can cost you a lifetime penalty or a coverage gap. The main ones are the Initial Enrollment Period (IEP) around your 65th birthday, the Annual Election Period (AEP) each fall, the Medicare Advantage Open Enrollment Period, the General Enrollment Period, and Special Enrollment Periods.

• Medicare Part A (Hospital Insurance)

  Medicare Part A is hospital insurance that helps pay for inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Most people do not pay a monthly premium for Part A because they or a spouse paid Medicare taxes while working.

• Medicare Part B (Medical Insurance)

  Medicare Part B is medical insurance that helps pay for doctor visits, outpatient care, preventive services, and durable medical equipment. Almost everyone pays a monthly Part B premium, which is set by CMS and can be higher for people with higher incomes.

• Medicare Part C — Medicare Advantage

  Medicare Advantage (Part C) is an alternative to Original Medicare offered by private insurance companies approved by Medicare. Advantage plans must cover everything Original Medicare covers and usually include prescription drugs, and often add benefits like dental, vision, or hearing.

• Medicare Part D (Prescription Drug Coverage)

  Medicare Part D helps pay for prescription drugs. You get Part D by joining a stand-alone Prescription Drug Plan on top of Original Medicare, or by choosing a Medicare Advantage plan that includes drug coverage. Delaying Part D without other creditable drug coverage triggers a lifetime penalty.

• Medicare vs. Medicaid — What's the Difference?

  Medicare is federal health insurance mainly for people 65 and older (and some younger people with disabilities), based on work history and age. Medicaid is a joint federal-state program that helps people with limited income and resources pay for health care. You can qualify for both at the same time.

• Medigap (Medicare Supplement Insurance)

  Medigap is Medicare Supplement Insurance sold by private companies that helps pay some of the health care costs Original Medicare does not cover — like copayments, coinsurance, and deductibles. Medigap works only with Original Medicare, not with Medicare Advantage.