Just the basics
If you have health insurance you probably already understand how a lot of this works. You have an amount you pay out of your own pocket up to a set amount per plan year called an out-of-pocket. Your out-of-pocket can be made up of deductible, copayments, and coinsurance --or all three. There is a maximum out-of-pocket that you are responsible to pay per plan year until your health insurance kicks in and pays.
In today's landscape, health insurance is skyrocketing leaving many employers with limited options of plans they can actually afford let alone their employees as "..deductibles for employer-sponsored health insurance have gone up 225% over the last 10 years."*. Employers are forced to either raise the deductible on their plan or increase the out-of-pocket costs in order to keep the monthly premium affordable, both of which will cost the employees more. When faced with increasing prices, most people are left with plans that provide little coverage still costing them hundreds a month and thousands a year.
If you have what's called a High Deductible Health Plan (HDHP) it means you have a higher than normal maximum out-of-pocket & deductible amount. Choosing an HDHP is cheaper for both you and your employer, but they typically leave you with more out-of-pocket costs, limited benefits and higher risk causing you to hand out upwards of $5,000 or more a year before insurance steps up.
So what's a gap plan ?
There's another option that's not raising the deductible or increasing the out-of-pocket expenses -- it's called a gap plan.
Medical gap plans are a form of secondary insurance that is designed to integrate easily into a high deductible health plan (HDHP). Bridgewell’s Gap Plan will always serve as the secondary plan to the major medical base plan design chosen by the employer for the group’s primary coverage. You keep your primary insurance base plan and we’ll cover the gaps that your primary insurance doesn’t cover.
We provide several plan options for various levels of coverage between the higher deductible amount you’re paying with your primary health insurance and the amount you actually want to pay. That way you can choose what type of benefits and monthly costs you want in order to hit the dollar amount that fits your needs and budget. When you combine a HDHP primary base plan with Bridgewell’s Gap Plan as the secondary insurance plan, you get the coverage you want and save between 10-25% compared to single payer plans with a lower deductible.
All you need to do is carry two cards. It's that easy.
Bridgewell's Gap Plans offer a full array of benefits at a deductible level that actually fits your budget! We've also built in features that save you out-of-pocket, including 100% lab coverage, $0 copay telemedicine access, and our participatory wellness program with WellBucks incentives that can be used to offset your expenses on the gap plan. Want to include Rx copay benefits? We do those too. Take a look for yourself!
Participate in our integrated wellness program and earn WellBucks to offset out-of-pocket expenses on the plan.