Everything You Need to Know About Group Health Plans

With little access to quality healthcare facilities, frontline workers face extreme hardships. Many of them are prone to diseases as a result of their living conditions and prolonged exposure to occupational hazards.

At a reduced premium, companies can purchase group health insurance for employees. This enables workers to avoid financial hardships during medical emergencies.

In the long-term, benefits like group medical insurance, life insurance, and more make workers feel valued. It helps bring down employee attrition levels.

Health insurance today can be an attractive and affordable proposition for small business owners with smaller teams. This can empower thousands of MSMEs in India who generate local employment, extend employee benefits, and better their living conditions.

Benefits Offered to Employees under Group Health Insurance Plans

Cashless Hospitalisation

Group health insurance has tie-ups with a special network of hospitals where workers can get cashless admissions. They skip paperwork complications and get the treatment they seek with the health insurance card provided by the insurer. The insurer compensates the hospital directly.

Pre and Post-Hospitalisation Costs and No Waiting Period

Not just the hospitalisation cost, group insurance for employees will also cover pre and post hospitalisation costs like ambulance charges, cost of medicines, diagnostic tests, physiotherapy charges, and more. This helps workers avoid out-of-pocket expenses that their wages cannot sustain.

Group medical insurance also doesn’t have any waiting period. Workers can avail insurance offerings from day 1.

Maternity Expenses and Newborn Cover

Women in low-income households still don’t have access to proper pre-natal and post-natal care in many regions of India. This poses a threat to their life, and that of their newborns too.

Group health insurance for employees can help such families avail proper maternity care. Small businesses can benefit in terms of diversity by inducting women into the workforce who wish to reap the many maternity benefits offered under group health insurance.

Coverage for Pre-Existing and Critical Illnesses

A group health insurance policy also has provisions for covering pre-existing and critical illnesses. Most individual policies do not provide cover this; an additional cover or rider must be purchased by the policyholder.

In the case of group health insurance, the insurance company will add a waiting period or let employees avail benefits from the get-go.

Coverage for Dependents

Group benefits are available to family members too, including spouses, children, and parents. This enables workers to reduce their financial burden in medical emergencies and lead a stress-free life.
Flexible Policies

Group health insurance for employees, whether in small or large businesses, can opt for certain benefits. They have to pay an additional premium for such policies. For instance, an additional rider for cancer cover.

The employer can deduct the extra cost from their salary. At minimum cost, employees can thus avail terms and conditions that suit their lifestyles and future needs.

An End-to-End Digitalised Insurance Solution

Group benefits like health insurance are one of the many ways to win employees over and ensure higher productivity in the long-term.

BetterPlace is an end-to-end insurance tech solution that allows companies to drive this change, along with enhanced employee experience.

With 24/7 digitalised claims support, workers are assured of total support during crises. Employers are able to reduce their operational overheads. Contact us to learn more.