Offering Supplemental GAP Group Medical Coverage
At Aegis Security, we offer Supplemental GAP Group Medical coverage. Our GAP Plan is an employer-sponsored group supplemental insurance plan designed to help reduce the cost of group medical coverage. By combining the GAP Plan with certain major medical plans, employers can deliver coverage their employees want and can afford, helping to attract and retain talent, particularly important with today’s rising medical costs and in the wake of the Affordable Care Act.
How the Supplemental GAP Plan Works
The GAP Plan is simple in that follows an employer’s major medical plan. It pays off the underlying major medical plan Explanation of Benefits (EOB) and it pays directly to the subscriber or provider.
GAP plans may have a supplemental deductible/coinsurance (out of pocket) which must be met prior to plan reimbursement. The GAP Plan pays the benefits described in the Schedule of Benefits up to the maximum benefit amount.
The GAP Plan pays the amount applied to the insured’s major medical deductible and/or coinsurance. It covers the same expenses as the major medical plan with the exception of charges for professional fees in a doctor’s office or medical clinic, outpatient prescription drugs, vision, dental and plan copayments.
GAP Plan Design Offer Flexibility
The GAP Plan is extremely flexible, allowing each group to choose the plan design and benefit amount to achieve the maximum overall premium savings for their group.
- Maximum Benefit Amount Options: Any amount from $1,000 to $9,500 per person per policy/calendar year
- Deductible Options: From $250 to $3,000 (higher deductible available upon request)
- Co-Insurance Options: 0%, 90/10%, 80/20%, 70/30%, 50/50% from $0 to $10,000 out-of-pocket
Everyone (employees and dependents) enrolled in the group’s major medical plan must be enrolled with the GAP Plan. On the GAP Plan effective date, everyone covered by the group’s major medical plan will be covered by the GAP Plan.
There are no excluded groups, however the minimum group size covered begins at 10 participants.
Behind the Shield of Aegis Security
Our insurance products are supported by a staff experienced in underwriting group health and accident plans. To learn more about our products, contact us at (800) 233-2160.