What Is Health Insurance Gap?

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   Ben Simpson

   President, Simpson Financial Solutions, Omaha, NE

   Gap Insurance is a product that was introduced a few years ago to offset a raise in deductible. Many employers have introduced this product, as health insurance has become unaffordable. So how this product works is the employer would raise the major medical deductible from $2500 to $5000. There would be a second policy (Gap Insurance) that would offset the increase in deductible. Anything that is covered by the major medical plan and was applied to the deductible would be covered by the gap plan.

   Answered on June 24, 2013

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