A Medicare supplement policy helps pay some of the health care costs that Original Medicare doesn’t cover. Some of these costs could be Copayments, Coinsurance, and deductibles. These plans are available to those turning 65. You can apply for the supplement plans as soon as you have applied for both Medicare Part A & B. You will also need to find a Part D plan for your prescription drugs. Remember there is a penalty if you do not sign up for a plan when you turn 65.