Apple Watch Series 5 is the latest and most expensive Apple Watch model that’s available from Apple. However, the company also kept in inventory the Apple Watch 3, which starts at just $199, making it an incredible deal, especially if you compare it with similarly priced alternatives. Going forward, the Apple Watch might be even cheaper as private Medicare companies have started working with Apple to subsidize the price of the wearable handset.

One of the best moments of Apple’s iPhone 11 press conference last month came when the company introduced the Apple Watch 5. Apple played a video showing various personal accounts from Apple Watch owners whose lives were saved in one way or another, by the wearable handset.

The device can measure the heart rate and warn about irregular patterns and detect falls, which are two features that could undoubtedly improve the lives of elderly patients. And that’s where Medicare subsidies come in.

Devoted Health is the first company to offer Medicare plans that include an Apple Watch subsidy, CNBC reports.

The company offers up to $150 per year for “wellness bucks for classes, programs, and wearable devices like an Apple Watch.”

The starting price for the Apple Watch 5 drops to $250 with the subsidy, making it a no-brainer purchase for seniors over 65 who already own iPhones and are covered by Devoted Health’s Medicare. That puts the Apple Watch Series 3’s price at $50 with the subsidy, which is an incredible deal. Series 5 does offer a bigger display as well as built-in EKG.

The only problem with the deal is that Devoted Health only covers Florida for the time being, although the company plans to expand to other states like Texas in the coming years.

Other insurers are also considering adding Apple Watch subsidies to their offers, CNBC notes. The list includes companies like Bright Health and Clover Health. Oscar Health, meanwhile, will offer a fitness benefit next year that covers that Fitbit, but not the Apple Watch.