Group health insurance is a health insurance that covers a group of employees or organizations by the employerGroup health insurance acts as a bridge between the employer and the employee in terms of work environment and experienceIt ensures employee retention for the employers and a conducive and sophisticated environment for the employeesTherefore, group insurance is a win-win situation for bothHowever, choosing the best employee insurance for your workers is a question that should not be left unansweredChoosing the best group health insurance plan is subject to the number of employees, their age, their health conditions, lifestyle, etcAs an employer, you should have a balanced plan in choosing or framing the best plan that benefits your employees as well as your companyIn general, your policy must cover the main aspects such as: ✔
- Coverage of the pre-existing diseases of the employees from the day the employee starts working in the organizationThis is a unique aspect of corporate healthcare insurance, which is not the case in an individual health care plan.
- Provide a wide range of coverage of medical health care for all diseases.
- Maternity coverage is a rare benefit that is covered under the group health insurance planThis will prove to be a huge benefit for young employees and ensure employee retention.
These plans are the key aspects of a group care plan that attracts employeesApart from these aspects, your medical plan must include extra benefits for your employees that will hold them in the company for agesYou should also make sure that you ensure coverage of the group health policy at lower premium rates for the employees’ families and other members, including tax benefits where you can avail of tax deductions that will benefit your company by cutting down the costsAs the pandemic has made a huge impact on the lives of the people, there have been rising health concernsTherefore, it would be more viable if you go for the group healthcare plans with COVID-19 treatment and other treatments that will aid your employees in these unprecedented times.
Some Extra Features are as Follows: 💭
- Cashless transactions and processes: In this era of the digital world, you should go for processes that involve less paperwork, time-consuming procedures and reduce the burden on the employees as much as possibleHaving cashless transactions as a part of the insurance claiming process will make it easier for your employees to claim themWith cashless transactions and a more digital approach, you can make transactions and claims in advance.
- Extra Benefits: Adding additional benefits such as treatment for dental care, diagnostics, and regular check-ups for aged employees will ensure that corporate health care is promising for the aged employees too.
- Pre- & Post-Hospitalization: Making inclusions of treatments and expenses before and after hospitalization under corporate health policy is an added advantageMany times, post-hospitalization fees will be more than the cost of treatment💰
- Coverage of medical health care for the employees’ families, spouses, and childrenYoung employees might need maternal medical health care coverage, aged employees might need insurance coverage in diagnostics, etc.
Popular insurers provide a sum insured of a minimum of 1 lakh, with 70% and sometimes even more percentage of incurred claim ratioThey also include a hospitalization fee for COVID-19 and have a network of around 1,000s of hospitals, which might vary depending on the insurerLifelong renewability of the group cover is also provided by almost all the health care insurers. 💡
In addition to these, here are the main benefits under the group plan that you should look to cover:
- Accidental Hospitalization should be covered under your plan for your employeesThis will ensure them that the company truly cares for themIf there are unprecedented situations that might lead to serious health concerns and urgent hospitalization with huge expenses, then the coverage of accidental hospitalization, such as road ambulance charges, room rent under the medical policy, will prove to be a promising plan for the employees✍🏻
- Hospitalization related to illness is another unique benefit that must be included under corporate health insuranceApart from COVID-19, there are various infections and diseases that will require extensive hospitalization treatmentThese diseases, which are not easy to cure through medication, will be requiring hospitalization and treatmentsHence, the inclusion of hospitalization related to the employees’ illness and for their dependents will keep them safe.
- Daily hospitalization covers aged peopleAged employees will be more prone to infections and diseases that require diagnostics on a daily basisThey would have to visit hospitals very frequently (for example, in cases such as dialysis).
- Your employees’ mental health is another important aspect of their healthThe inclusion of psychiatric benefits under the group cover would prove to be unique and caringWith the rise in workload and stress, there have been many mental issues, which is a rising concern👀
- Make sure that the plans, which are provided to your employees, are customizable to provide more flexibilityHaving customizable group health insurance that can be modified from time to time will be highly beneficial for you, as you can change the plans depending on the number of employees covered in the group healthcare plan📃
Overall, to have the best group insurance policy, provide a flexible, versatile, and employee-friendly healthcare plan.