What does medical gap mean?

In finance, the term "medical gap" typically refers to the difference between the cost of medical treatment or procedures and the amount covered by an individual's health insurance. This difference can create a financial burden for patients, as they are responsible for paying the remaining amount out of pocket. Medical gap insurance is a type of supplemental insurance that helps bridge this difference by covering some or all of the out-of-pocket expenses that are not covered by the primary health insurance plan. This can include deductibles, co-payments, and other medical expenses that may not be fully covered by the primary insurance. The medical gap can also refer to disparities in access to healthcare and medical services between different demographic groups, such as income levels, geographic locations, or racial and ethnic backgrounds. This can lead to unequal health outcomes and financial burdens for those who are unable to access the care they need. Overall, the term "medical gap" in finance encompasses the financial challenges and disparities related to healthcare costs and access to medical services, and the various insurance and support mechanisms designed to address these issues.