With the constant increase in premiums everyone is looking for ways to cut cost while continuing to offer quality benefits. The GAP Plan gives employers the best of both worlds.
The GAP Plan allows employers the opportunity to reap the premium savings that come with a high deductible plan, while offering a lower deductible to their employees.
Employers purchase a higher deductible than they currently have and through the GAP Plan allow their employees to keep the same lower deductible benefits they are accustom to being provided.
GAP Plan, Employee
GAP Plan, Employer
- The employer would recoup the premium savings from the higher deductible. Throughout the plan year, on average 20% of employees will eclipse their deductible, so the employer will have to pay 20% of their savings back, saving 80% of the premium difference.
- With BMI handling all the complicated administration, the employer saves money on their total cost of health insurance, while offering the same quality benefits.
- Works in conjunction with all insurance companies
- Change for Employee: Employees have one extra step. They have to fax or mail BMI a copy of their EOB (Explanation of Benefits). In a few days BMI processes the claim, send the employer a request for funding, and issue a check directly to the employee for the difference in benefits.
