What Is Gap Health Insurance Coverage?
Many of us live in places where we must get health insurance in order to protect ourselves in case we are ever to fall ill or be injured. Sometimes, the plans that we purchase for ourselves or are given through our employers simply is not enough, so we must purchase additional coverage. If you are interested in finding out more about gap health insurance coverage and what it is, this article may be able to help you.
Insurance is not cheap. In fact, this often takes up a large amount of our incomes each and every month and sometimes we feel we are not getting our money's worth. Unfortunately, just because we spend a ton of money on coverage, it does not mean that we will get an ample amount of it in return. Oftentimes, people are left to fend for themselves in many ways.
Because of the cost of insurance plans and their many shortcomings, people purchase additional policies. Such policies may come from the same insurer or from a different one. However, they are only small policies.
These policies are designed to fill in the gaps. For example, someone with insurance that covers visits to a general practitioner with a low co-pay may not have ample prescription coverage. In this case, they may take out a second policy to fill in that gap. Aflac is one company that specializes in gap insurance.
People who are on Medicare may also take out a policy to supplement what they already have. This will depend upon the health condition of the Medicare recipient though. Some healthier people may decide that additional coverage is unnecessary. Unfortunately, medicare does not cover all your medical expenses and many seniors find this out the hard way.
Many plans fall short when covering visits to the emergency room or long hospitalizations. Even if it does cover the co-pay may be too high. There may also be limits on how much of your expenses they will cover this is where gap health insurance plan can help. People with poor health histories may take out an additional policy that picks up where their main policy leaves off.
Gap health insurance can be complex. Remember when purchasing a policy like this, there can be many gotchas and sometimes the plan may not payout like you thought. So look at online reviews and find a reputable company so you will have good coverage for those uncovered health expenditures.
by: Zandra Jones