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What kind of disease-wise capping can be put in GMC to manage price?

With disease-wise capping, an insurer can reduce claims out-go and hence its risk for the GMC. Though you can select the list of diseases and respective capping for a group policy insurers have pre-defined slabs of lower limits, default limits, and higher limits. Below is an illustration of these slabs –   Lower Limits – […]

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Who is the right insurer for a start-up GMC?

When you are buying group insurance for the first time, you have to be extra cautious in your choice of service partner. There are 20+ general and health insurance companies in the market offering group health insurance services. Choosing among them can be a tough task. Below mentioned are few parameters that can help you […]

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How can employees take advantage of group to individual portability?

As per Health Regulations 2016, portability guidelines, members covered under any group health insurance policy of a general/health insurer can port/migrate from a group policy to an individual policy with the same insurer. Though group health insurance schemes are more relaxed, they do not provide all the benefits which are available in an individual policy. This guideline is extremely beneficial for members who move out of the group and […]

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What are the options for a company to buy insurance for expat employees?

Most companies now have global operations. They may be required by the statutory laws of the foreign land to provide coverage to expat employees working in their respective geography. Since in most countries insurance is regulated by local law, while buying the insurance policy for expat employees, it is important to ensure that the policy […]

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What are the limitations of a Group Health Insurance for an employee?

Though group health insurance policies are extremely flexible by design in terms of enrollment and operability, they come with their own set of limitations. Below we highlight few limitations of the group health insurance program –   The employee has little or no control over their individual coverage. The benefit structure of the group plan […]

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How can deductible and co-pay help in lowering the price for GHI?

Group health insurance pricing is a function of claims record, no. of lives covered with respective demography, and benefit structure of the policy. An increase or decrease in the benefit structure translates into a proportionate increase or decrease in projected claim costs and hence policy premiums. In this article, we’ll get to know how can […]

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Types of endorsement scales in group medical insurances

As an organization contemplating group medical coverage (GMC), you might have encountered different types of endorsement methods. This post helps to make sense of these endorsement methods. Insurers frequently use two types of endorsements methods in the case of group medical insurance: Pro-rata As the name suggests, pro-rata means proportionate. In this endorsement method, the […]

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What are the advantages and disadvantages of a group-based indemnity policy?

What are the advantages and disadvantages of a group-based indemnity policy? A Group based indemnity policy comes with both advantages and disadvantages. Advantages – 1. Waiver of medical underwriting – Medical tests are not mandatory for group insurance schemes. Hence policy issuance is guaranteed for members who may have pre-existing medical conditions. 2. Waiver of […]

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