Original Medicare, provided by the federal government, is relatively easy to understand. Part A covers hospital services, while Part B covers medical services like doctor visits. Most people become eligible for Medicare at age 65, and enrollment in Part A is usually automatic for those receiving Social Security benefits. You may need to actively enroll in Part B if you're not automatically enrolled.

Medigap policies are private insurance plans that can help pay for some of the out-of-pocket costs associated with Original Medicare, such as copayments, coinsurance, and deductibles. These plans are standardized by the federal government, which means that Plan A from one insurer must offer the same coverage as Plan A from another insurer. There are currently ten standardized Medigap plans (A, B, C, D, F, G, K, L, M, and N), although not all plans are available in every state. It's essential to compare the plans and choose one that suits your needs and budget.

While Medicare Advantage is not strictly a supplemental insurance option, it is an alternative to Original Medicare that often includes additional benefits beyond what Medicare covers. These plans are offered by private insurance companies and may include coverage for prescription drugs, dental, vision, hearing, and wellness programs. However, the specifics of these benefits can vary widely from one plan to another.

If you're looking to supplement your Medicare coverage with prescription drug coverage, you can enroll in a standalone Medicare Prescription Drug Plan (Part D). These plans help pay for the cost of prescription medications. Be sure to choose a Part D plan that covers the specific medications you need.

Some insurance companies offer standalone dental, vision, and hearing insurance plans that can help cover the costs of routine dental exams, eye exams, glasses, hearing aids, and related services. Alternatively, you may find these benefits included in certain Medicare Advantage plans.

Long-term care insurance is not typically considered supplemental insurance for Medicare, but it can be essential for covering the costs of services like nursing home care, assisted living, and home healthcare, which are not covered by Medicare in most cases.

Hospital indemnity insurance pays a fixed amount for each day you're hospitalized, helping to cover hospital-related expenses. While it doesn't directly coordinate with Medicare, it can provide extra financial protection in the event of hospitalization.

Cancer insurance is a supplemental policy that provides coverage specifically for cancer-related expenses, such as chemotherapy, radiation therapy, and specialized treatments. This type of insurance can be beneficial if you have a family history of cancer or other risk factors.