Group Health Insurance Plan
Group health insuranceis a medical insurance that covers a group of people, who are usually the members of societies, employees of a common company, or professionals in a common group. Group health insurance helps companies identify and mitigate the risks faced by their employees. Rising costs of healthcare have made it necessary for every employer to cover their employees and their families from financial instability that may arise in case of hospitalization. Also, group health insurance helps companies in attracting talented staff. Whether you are a small group or a company, you can easily retain best talent in the industry by offering comprehensive health insurance coverage. Almost all health insurance companies offer flexible covers at affordable premium rates, which depend on conglomeration of factors, like size of the group, profile of members, etc. It works under certain terms & conditions, which are applicable to all insured members. At PolicyBazaar, we strive to use highly innovative approach to help you in comparing best health plans. Compare and choose the right health plan, which provides coverage to all members in a single policy Click to Read More About Group Health Insurance Plan Benefits of Group Health Insurance Policy Employees are the treasured part of any organization. These days more and more companies are becoming employee-centric and corporate health insurance has emerged as one of the most preferred benefits to lure new talent. It plays a crucial role in influencing the psychology of an employee. It makes him feel part of a company and thus, it curtails employee attrition rate and unrest in labor unions. Moreover, it increases their productivity which increases profitability of a business. Special insurance schemes where families are also covered for benefits make employees faithful towards their employers. Moreover, by offering coverage to your employees, you become eligible to get tax deductions under Income Tax Act. So group health insurance policy is a win-win situation for both employees and employers.
Features Group Health Insurance Plan
There are several group health insurance policies available in the market. Listed below are some common features present in all employee health insurance plans. Employee health insurance companies typically cover medical benefits for insured (self), spouse, children and dependent parents Some health insurance providers cover pre-existing illness and maternity as well Employee health insurance offers cashless hospitalization at network hospitals Group health insurance can cover ancillary charges such as ambulance costs too. Some employee health insurance policies provide fee reimbursements of specialists and other medical practitioners for follow checkups Read More: Group Health Insurance Vs Stand Alone Health Insurance Want a Healthy Workforce? We can Help! It is no secret that employees value benefits of group health insurance. However, as premium costs escalate and claim procedure being stringent; employee health insurance has become a tight rope walk in India. We at PolicyBazaar introduce a wide gamut of group health insurance policy products to help you in choosing best corporate insurance plans that will suit both parties i.e. employers and employees. Blending the entire service right from expert advisory, purchase assistance and policy renewal in one package, PolicyBazaar works towards making insurance process easy and convenient.