Quick Summary Table Feature Previous State (Pre-2025 Regulations) New State (Post-2025 Regulations) Portability Often challenging or limited Mandated seamless portability for individual covers upon exit Standardization of Terms Varied definitions across insurers Standardized definitions for common medical terms and procedures Claim Settlement Timelines Varied, sometimes protracted Stricter, transparent timelines for claim processing and payout Transparency […]
Video- Why one needs Group Health insurance?
Why one needs Group Health insurance? This short video blog article aims to explain the importance of having a Group Insurance policy for employees’ and employers’ perspectives, shedding light on the benefits and features of such policies. If you require guidance in selecting the right group health coverage, we can assist you with the same. […]
Can you cancel your policy and seek refund during the policy period?
You are allowed to cancel your policy anytime during the policy period provided there is no settled or outstanding claim in the policy. All you need to do is to send a written request to the insurer for cancellation along with the reason for cancellation. Key Takeaways The Claim Barrier: You are only allowed to […]
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 a few limitations of the group health insurance program – The employee has little or no control over their individual coverage. Designed the benefit structure of the group […]
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. Key Takeaways Pro-Rata: The “Pay-as-you-go” Model: This is the most employee-friendly method. If a new hire joins on Day 180 of a 365-day policy, the company only pays […]
Why do I need a group health insurance policy?
A group health insurance policy covers a group of individuals under a single plan. The policy features affordable premiums and provides good health coverage to the insured members of the group. Corporations usually opt for a group medical insurance policy as an employee welfare benefit. The policy covers the employees of the organization for their […]
Importance of Group Health insurance – Infographic
These days more and more companies have become employee-centric and group health insurance has become one of the most preferred benefits to attract and retain talented employees. Businesses big and small have recognized the importance of Group Health insurance policy for employees benefit option. Group health insurance policy or Group Medical Insurance can provide a number of […]
Five healthcare benefits only available in a Group Health Insurance Policy
One of the most important goals that any employer seeks to achieve is employee satisfaction. An organization may provide various facilities to make its employees feel comfortable. These include suitable parking space in the office area, good-quality stationery, and free beverages or decent food options in the office canteen. Some organizations also organize free medical […]
Can startups buy group medical insurance?
Group Medical Insurance for Startups Most group health insurance plans need a minimum of 20 members, but many early startups usually have only 8-10 employees. If you own a startup, you can always pick a group health insurance policy that covers both employees and their immediate family members. In doing so, you can reach the […]
How does a Group Health Insurance benefit an organization?
Group Health Insurance benefit for the organization can be summarized as follows: Motivated Employees: Employees feel obliged which inculcates the belongingness and loyalty factor amongst them. The employees feel less stressed and relaxed as far as their spouse, children, and dependent parents’ medical needs are under consideration. This gives rise to a tension-free, happy and motivated […]