Group Gap Insurance
Supplemental medical expense insurance for employers.
What is group gap insurance?
An employer-sponsored group supplemental medical expense insurance which can reduce the overall cost of an employer’s group medical coverage. When employers combine this with a major medical insurance plan, it can provide coverage that groups need and can afford.
How does group gap insurance work?
After the deductible is satisfied, coverage will pay benefits until the Maximum Benefit amount has been reached. Depending on the employer’s plan design, it will help pay the charges for hospital and outpatient applied to the deductible, coinsurance and co-payments. It can provide coverage towards the same expenses as your group’s major medical insurance plan with the exception of certain exclusions outlined in the policy.
Why do groups need it?
It can save employers 10-20% on their group medical premium. This supplemental medical expense coverage helps maintain or improve benefits while providing additional hospital inpatient and outpatient coverage.
What can this policy offer to groups?
Savings on Group Medical Premiums
Deductibles up to $5,000
Payable Benefits
3 Things to Know…
- Maximum benefit options are any amount up to $9,500.
- Deductible options are from $500 to $5,000 (higher deductibles are available upon request).
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Co-insurance options are 0%, 90/10, 80/20, 75/25, 70/30, 50/50.
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This product and its features are subject to state availability and variability. The Policy has exclusions, limitations, reductions of benefits and terms under which the Policy may be continued in force or discontinued. Click here to view product disclosures.
GAD28.17-23