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Gap Cover as an Employee Benefit

Gap cover, also known as medical gap insurance, is a valuable financial tool designed to provide employees with much-needed relief from the often daunting and unexpected expenses associated with medical care. This concept serves as a crucial bridge between conventional health insurance plans and the actual cost of healthcare, offering comprehensive coverage that can significantly ease the burden on individuals and their families. 


What “Gaps” Are there in healthcare Costs?

Gaps are the differences between what a patient is required to pay for medical services and what their primary health insurance plan covers.

These gaps can manifest in various forms, such as:

  • Deductibles.

  • Copayments.

  • Coinsurance.

  • Out-of-network fees.

Without gap cover, your employees may find themselves facing substantial out-of-pocket expenses, which can be financially overwhelming and stressful. 

How Gap Cover Works and How it Can Greatly Benefit Your Employees

Financial Protection

Gap cover acts as a safeguard against unexpected medical expenses. It steps in to cover the financial disparities between what the primary insurance plan pays and the actual cost of medical treatment.

Reduced Out-of-Pocket Costs

By mitigating out-of-pocket expenses, gap cover ensures that employees do not have to dip into their savings or face financial hardships when seeking necessary medical care. It helps maintain financial stability during times of health crises.

Peace of Mind

Knowing that there is an additional layer of protection in the form of gap cover can provide peace of mind to employees and their families. They can focus on their health and recovery without the added stress of overwhelming medical bills.

A man with his hands over a wheel share symbol, discussing the importance of gap cover as an employee benefit

How gap cover can be an effective way to protect employees from financial hardship in the event of a medical emergency

Gap cover serves as a powerful and practical solution to shield employees from potentially devastating financial hardship when faced with a medical emergency. In the unpredictable world of healthcare.

How Gap Cover Effectively Safeguards Employees

Filling the Financial Gap

Medical emergencies often entail substantial expenses that may not be fully covered by traditional health insurance. Gap cover steps in to bridge this financial gap. 

Emergency Surgeries

Unexpected surgical procedures can be financially draining. Gap cover provides crucial coverage for emergency surgeries, making sure employees have access to timely medical interventions without the fear of depleting their savings or going into debt.

The Benefits of Offering Gap Cover as an Employee Benefit

Offering gap cover as an employee benefit can have a profound and positive impact on both employees and the organization as a whole.

Increased Employee Satisfaction and Loyalty

Gap cover is a clear demonstration of an employer’s commitment to the well-being of its workforce. When employees know that their company is willing to go the extra mile to protect them and their families from financial hardship during medical emergencies, it instills a sense of trust and loyalty.

Reduced Absenteeism

Financial stress resulting from high medical expenses can lead to absenteeism as employees may delay seeking necessary medical care or take time off to deal with mounting bills.

Improved Productivity

Healthy and financially secure employees are more likely to be productive and engaged in their work.

Positive Company Culture

Offering gap cover sends a strong message about the company’s values and commitment to its workforce. It fosters a positive company culture centered around employee well-being, which can enhance teamwork, morale, and overall organizational success. 


Cost-Efficiency for Employers

While providing gap cover as an employee benefit incurs a cost for employers, it can be a cost-effective way to support employees. By preventing absenteeism, improving productivity, and retaining talent, organizations can experience long-term cost savings and a positive return on investment. 

Secure Your Company’s Gap Cover Policy Today!

Simply complete the form below and click ‘submit’ to submit a gap cover policy inquiry. Our customer service team will get in touch with you within 2 business days.