Gap Health Insurance is a supplemental health plan that works along with a high-deductible major medical plan. The IRS defines a High Deductible Health Plan (HDHP) as a plan having a deductible of at least $1,300 for an individual, and $2,600 for a family. As the name implies, gap insurance helps pay for medical costs that occur before reaching the deductible, which has led to people calling it “insurance on insurance”.
What is Covered by a High Deductible Gap Supplement plan?
A high deductible gap insurance plan is simple in that it follows an employer’s major medical plan. It pays off the underlying major medical plan’s Explanation of Benefits (EOB) directly to the subscriber or provider. A gap plan pays the benefits described in the schedule of benefits up to a maximum benefit amount. These plans may have a supplemental deductible or coinsurance (out of pocket) which the subscriber must meet prior to plan reimbursement.
A gap insurance plan pays the amount applied to the insured’s major medical deductible and coinsurance. It covers the same expenses as the major medical plan except for charges for professional fees in a doctor’s office or medical clinic, outpatient prescription drugs, vision, dental, and plan copayments.
Jon Nolan Insurance provides the best high deductible gap supplement insurance services available to or customers in Dallas, Fort Worth, Arlington, Frisco, and throughout our DFW service area. For more than two decades, our supplemental insurance options have been designed to enhance your basic Medicare coverage. Other supplemental options address cancer, critical illness, heart attack & stroke, hospitalization, and more.