Gap Health Insurance
Gap health insurance policies allow you to receive coverage on medical expenses before your deductible has been met. For certain individuals with high deductibles, paying a small monthly premium for gap health insurance gap coverage can potentially lead to significantly lower medical expenses.
If your primary health insurance plan has high deductibles or copays, gap insurance can help cover those extra costs. This means you might end up paying less out-of-pocket for medical expenses.
Gap insurance can serve as a supplement to your primary health insurance, potentially covering things like additional treatments or services that your main plan doesn’t fully cover.
It’s particularly useful for people with high-deductible health plans (HDHPs), as these plans often come with significant out-of-pocket expenses before coverage kicks in fully.
Unlike health insurance, which covers a broad range of medical costs, gap insurance focuses specifically on helping cover those gaps or additional costs that you would otherwise have to pay out-of-pocket.
Overall, gap insurance can provide an extra layer of financial protection, especially if you anticipate high medical expenses or if you have a health plan with substantial out-of-pocket costs.