It's rare to find a broker these days who hasn't heard of gapproducts. Gap plans, designed to supplement high-deductible medicalplans, have become standard in the benefits industry. Yet, gapplans continue to be somewhat controversial and oftenmisunderstood.
Merriam-Webster provides one definition of gap as a “hole orspace where something is missing.” A medical plan with a highdeductible creates a “gap” between what the medical carrier paysand what the insured has to pay out of pocket. And supplementalmedical gap plans aim to fill that space.
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