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The Premium Saver Plan (PSP) is an employer sponsored group medical gap insurance plan designed to help reduce the cost of group medical coverage. Combining the Premium Saver with certain high deductible health plans can deliver the health coverage groups want and can afford.


PSP is NOT like other gap plans

There are other gap plans in the market that have the same idea as our plan, but these plans have many exclusions that may include home healthcare, elective surgeries, bunion surgeries and some of the therapy options. The Premium Saver plan will cover these services if the major medical covers them, which then it will follow the major medical plan design.

What is a "gap insurance plan"?

Gap Health Insurance is a group supplemental health plan that works along with a high-deductible major medical plan. As the name implies, gap insurance helps pay for medical costs that occur before reaching the deductible, which has led to people calling it “insurance on insurance”. It is important to note that gap health insurance is not major medical nor ACA compliant. It is a supplemental policy.


With a gap plan, a business can offer gap health insurance that keeps out-of-pocket expenses for employees down while spending less than they would if they had a higher priced plan with a lower deductible. If your major medical deductible is $1,000 and your gap plan deductible is $500, then the employee will only have to pay $500 in out-of-pocket costs.

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