What is GapAssist insurance?
GapAssist is a product that combines accident, critical illness and inpatient hospital coverage, to help employees with unexpected medical costs such as deductibles, coinsurance or co-pays.
Coverage may be offered to employees, their spouse and dependent children, with tiered premiums based on who is enrolled.
Who should consider it?
With higher-deductible plans becoming more common, employees are more likely to experience coverage gaps, and face significant out-of-pocket costs. Two thirds of those with medical bill problems say they resulted from a one-time or short-term medical event.1 By offering these plans, employers make it easier for employees to prepare for the unexpected.
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Key benefits
- Guarantee issue – no medical history required
- No pre-existing limitations for hospital and accident coverage
- Critical illness coverage benefits are paid regardless of any other coverage and can be used for anything
- Inpatient hospital coverage includes stays in a hospital, ICU, substance abuse facility, mental health or nursing facility
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Additional features
Three plan designs — Base, Classic and Premier — offer the same core coverage, with varying benefit amounts. Employers can offer any or all three plans.
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Proposal request
For information or to request a proposal for a Voluntary GapAssist policy underwritten by Symetra, please contact your Mosaic Group representative. Coverage may be offered on a Guarantee Issue basis with minimum participation requirements.2
- Kaiser Family Foundation/New York Times Medical Bills Survey (conducted Aug. 28-Sept. 28, 2015).
- Subject to underwriting.
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