Most employers today offer health benefits to employees. These benefits are in the form of mediclaim group coverage’s provided by insurance companies that cover an individual up to a maximum of Rs 5 lakh. If administered correctly, the coverage of the medical grievance group can be very beneficial for both employers and employees. When it comes to group health insurance, you are not required to submit any medical report, in addition, there is no waiting period and you also have coverage against pre-existing conditions, which makes it the most wanted health insurance plan. Your reasonable premium is another important factor that makes it beneficial.
You can take advantage of the group health plan benefits only when your employer is offering it.
The central nature of a group health insurance policy is that a master policy is issued that offers coverage to each and every one of the people in the group for which the policy was purchased. In a group insurance plan, the terms and conditions, inclusions and exclusions are the same for all people covered by that same plan. Today, almost every single insurance company in the market offers group health insurance, but each company has its own set of rules that it complies with.
Evaluating what your employees' value most in terms of benefits, should be on top priority. Employees who had undergone health check-ups showed higher productivity at work.
When deciding on an insurer, it is important to weigh the premium, product and service aspects. An insurance company offering a lower premium, for instance, could have a poor customer service.
Some companies choose to appoint a third-party administrator at these locations, while others keep their own administrators. This doesn't affect the customer but it helps to check the spread of these administrators across major hospital networks.