How will you prepare for Out-of-Pocket charges from hospital and doctor bills?
As healthcare costs continue to increase, many individuals and businesses are moving towards high-deductibles and increased co-insurance on major medical plans in an effort to reduce costs. While this approach reduces the cost of your health insurance, it puts you at greater financial risk. In fact, more than six in 10 adults who say they have problems paying their medial bills are covered by health insurance.
Philadelphia American Life Insurance Company’s GAP plan helps bridge the gaps in the overage that exist in your current insurance plan by reducing or even eliminating the Out-of-Pocket expenses associated with the hospital and doctors bills. The plan pays the difference in what your medical plan would pay and what you or a covered family member would owe.
Benefits are limited to the deductibles, co-pays and co-insurance amounts that you or each of your covered family members are required to pay under your Primary Medical Insurance and include:
- In-patient hospital expenses
- In-patient surgeries
- Physician’s hospital charges
- Plus 50% of covered Outpatient expenses, which are considered eligible expenses under your Primary Medical Insurance policy
Does the GAP plan cover the expenses associated with Outpatient Expenses?
Yes. It is also designed to help you with your outpatient medical expenses by paying 50% of outpatient expenses that you or a covered family member would owe and are related to co-insurance and/or deductible expenses. These expenses must be considered eligible expenses under your Primary Medical plan but are not paid by the plan.