It's rare to find a broker these days who hasn't heard of gap products. Gap plans, designed to supplement high-deductible medical plans, have become standard in the benefits industry. Yet, gap plans continue to be somewhat controversial and often misunderstood.
Merriam-Webster provides one definition of gap as a "hole or space where something is missing." A medical plan with a high deductible creates a "gap" between what the medical carrier pays and what the insured has to pay out of pocket. And supplemental medical gap plans aim to fill that space.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
