This coverage is also known as Medigap and is sold by private companies to help pay some of the health care costs you may accrue that aren’t covered by Original Medicare. Some of these costs include copayments, coinsurance and deductibles.

If you plan on traveling outside the U.S., a Medigap policy may prove to be beneficial should you need medical attention as it offers coverage for some services.

Medigap plans were established to cover the out-of-pocket costs left out of your Original Medicare Plan which doesn’t cover services such as hospital stays, skilled nursing facility stays, blood tests, Medicare Part B yearly deductible and Medicare Part B covered services.

Medicare Part D Plans are offered by private insurance carriers to provide those with Original Medicare additional prescription drug benefits. Original Medicare only includes drug coverage when hospitalized. Medicare Part D Plans provide coverage at the pharmacy or for outpatient care — significantly lowering the amount you pay for prescription medication.

Medicare Part D Plans can be purchased separately or added on to your Medicare Advantage Plan. When purchased separately, they are known as Standalone Prescription Drug Plans (SPDPs). These types of plans are for those who have Original Medicare, or have Original Medicare with MediGap. When purchased as part of a Medicare Advantage Plan, they are known as Medicare Advantage Prescription Drug Plans (MAPDPs).