What is Gap Insurance?
In this day and age, health insurance is becoming increasingly more expensive. Most employers try their best to provide affordable health insurance for their employees, but in doing so, they often end up increasing the employees’ deductible. This does help keep your paycheck nice and healthy, but what happens when YOU become unhealthy? Unfortunately, you will end up paying more out of your own pocket. Gap insurance health plans can help cover those out-of-pocket costs so you and your pocketbook can both stay healthy.
Basically, gap insurance gives you a certain amount of money each year to help supplement high insurance deductibles. Let’s say you have to have surgery and stay overnight at the hospital to recover. If your deductible is $3,000 and your co-insurance is $2,100, that’s around $5,000 that you have to pay out of pocket! But if you have a gap insurance policy, let’s say in the amount of $5,000, you would only have to pay $100. That’s a big difference!
Is Gap Insurance Right for You?
Over the past few years, health insurance premiums have been rising at an alarming rate. Whether you are an individual shopping for health insurance or a business owner trying to provide affordable health insurance to your employees, many people try to cut corners to save money by increasing deductibles and co-insurance. Gap insurance can literally help you bridge the “gaps” between your health care coverage and your deductible, saving you money and keeping you healthy.
Some benefits that a gap insurance policy can help you save money on include:
- In-patient hospitable expenses
- In-patient surgeries
- Doctor’s hospital charges
- Certain outpatient expenses, like follow-up doctor’s visits
Want to Learn More?
In a perfect world, we would have both affordable health insurance coverage and lower health insurance deductibles. Until then, let Landeche Insurance help you find the right health and gap insurance policies that will cover you and your loved ones in your time of need. Contact us now for more information. Click the following links for Information on health insurance or short term health insurance.