Health insurance providers specify a room-rent cap in a group health insurance policy. This post seeks to examine what this cap is and what its implications are, especially in the context of group medical insurance. Room-rent cap Simply put, a room-rent cap in group health insurance is an upper limit that a health insurance company […]
Fewer waiting periods with group health insurance
A standard individual health insurance policy comes with different waiting periods for various diseases. What this means is that after buying an individual medical insurance policy, you might have to wait for some time before submitting a claim. The amount of time you have to wait might differ based on the medical treatment as well […]
Can a husband and wife be covered under group health insurance?
Group health insurance plans are the healthcare benefits offered to the group, company or all the eligible members of typically a group of employees. Most of the companies offering healthcare benefits for employees also allow them to avail cover for their dependent family members such as a spouse, dependent children, and parents. That means a […]
What are the advantages of group plans?
Generally, the organization or employers purchases group insurance plans for their employees and for the well-being of their families. Customizing the policies based on the needs of the group and its members. Group plans offer numerous advantages to both employer (group) and employees (members). The group plans offer the following advantages. Advantages for employers: 1. […]
What is the difference between group health insurance and individual health?
For salaried individuals, when it comes to considering health insurance, there are broadly two options available – group health insurance and individual health insurance. Though both plans offer healthcare coverage to an individual or the family, both plans differ by definition, details, and in other ways. Understanding the difference between group health insurance and individual […]
Who is the policyholder in group mediclaim insurance policy?
Group mediclaim insurance policies or group health insurance plans are the health insurance covers provided to all the eligible members of a group. A group can be an organization, company, or employer. Generally, employers or organizations offer health insurance benefits to their eligible employees or members. And to their dependent family members in order to […]
Is group medical insurance mandatory?
Group medical insurance plans offered by a company as the employer provide financial protection against healthcare contingencies to the employees. In some companies, the coverage extends to the families of the employees. Group medical insurance policies are attractive benefits, the employer offers to employees. Though medical insurance is one of the crucial social welfare areas, […]
Reasons why group health insurance cheaper than individual health insurance
Group health insurance plans usually offered by the employer are usually cheaper than an individual health insurance plan. Though each of these plans comes with its own benefits and exclusions, group mediclaim insurance plans are more cost-effective than health insurance plans for an individual, for various reasons. The following are the reasons why group health […]
Pros and cons of group insurance family floater options
Groups often offer health insurance coverage to their members. For employers, this is a useful incentive to hire and retain employees. It involves the employer buying a group mediclaim insurance policy that will cover its employees. Some organization offers to extend the medical coverage to the family of the employees through family floater option. In […]
Looking for a group health insurance for your firm? 4 points to consider
Offering group health insurance to employees is a great idea. Not only does it help in attracting top talent to your company, but you can also avail a lot of benefits as an employer including tax benefits. So, if you are looking for group health insurance for your firm, here are some points that you […]