As high deductible health plan (HDHP) enrollments become more common,[0] many people may find medical gap insurance helpful in covering some out-of-pocket costs not covered by their major medical insurance plan.
For 2020, any plan with a deductible of at least $1,400 for an individual or $2,800 for a family is considered a HDHP.[1] An individual may incur up to $6,900, and a family up to $13,800, in out-of-pocket costs (including deductibles, copayments and coinsurance), before reaching the plan’s annual out-of-pocket maximum, at which point eligible expenses are paid by the insured’s major medical plan.[2]
Because you pay more healthcare costs yourself with an HDHP,[3] gap health insurance can help you cover your portion of expenses until you’re able to access your major medical plan’s benefits.
Who should get gap insurance?
As high deductible health plan (HDHP) enrollments become more common, many people may find medical gap insurance helpful in covering some out-of-pocket costs not covered by their major medical insurance plan.
For 2020, any plan with a deductible of at least $1,400 for an individual or $2,800 for a family is considered a HDHP. An individual may incur up to $6,900, and a family up to $13,800, in out-of-pocket costs (including deductibles, copayments and coinsurance), before reaching the plan’s annual out-of-pocket maximum, at which point eligible expenses are paid by the insured’s major medical plan.=
Because you pay more healthcare costs yourself with an HDHP, gap health insurance can help you cover your portion of expenses until you’re able to access your major medical plan’s benefits.