Hospital Gap Policies are a great way to help ease the affects of high medical insurance deductibles. Medical Gap or Bridge plans are available either as employer-paid or as a voluntary benefit. For example, if you have just changed your health insurance deductible from $500 to $1,500 to avoid paying high premiums, you may be able to purchase a Hospital Gap plan that covers up to $1,000 for less than the difference in premium. Essentially, you have purchased the same amount of coverage for less money.
Most Hospital Gap policies do not have medical underwriting requirements or pre-existing exclusions. They are an economical way to continue providing quality health insurance benefits to your employees without battling the huge rate increases each year.