27 Sep 2022

Pan-American Life Insurance Group Introduces Gap Supplemental Medical Expense Insurance

Pan-American Life Insurance Group, in partnership with Surety Marketing & Consulting Services LLC, has introduced Gap Supplemental Medical Expense Insurance, an employee benefits product solution that is in high demand in today’s marketplace.  

Pan-American Life’s premier gap product is designed to help offset the out-of-pocket expenses that may be incurred under a high deductible Major Medical plan. Gap insurance can “bridge the gap” by reimbursing the clients for eligible deductibles, coinsurance, and copays. Pan-American Life leveraged Surety Marketing’s expertise in developing the product’s attractive features.  

“We recognize that out-of-pocket medical expenses can still be prohibitive for employees with coverage through their place of work,” said Michael Clarke, Sales Vice President, Accident and Special Markets Practice Leader at Pan-American Life Insurance Group. “Pan-American Life’s gap product, combined with a high deductible Major Medical plan, adds value to employees’ benefit package offerings while providing considerable savings for employers.”  

“Surety is excited to partner with Pan-American Life’s US Group division on this program,” said Woody Sprouse, Chief Marketing Officer, Surety Marketing & Consulting Services. “We anticipate a very positive reception of what we feel is a competitive offering in this valuable space.” 

This plan, which is initially available in AL, AR, AZ, GA, LA, MI, MS, NC, PA, SC, and TN, will be issued by Pan-American Life Insurance Company (PALIC) and administered by Administrative Concepts, Inc. (ACI), an organization with extensive experience in Fully Insured and Self-Insured Employer Benefit Plans.  

For more information on Gap Supplemental Medical Expense Insurance and how to request a quote, please contact Michael Clarke at: (302) 690-8059 or mclarke@palig.com.