Medical and hospitalization expenses of the employees are covered by the group health insurance policy. Hence, Employees are the most valuable assets of a company and employers try their best to secure employee satisfaction in the form of various facilities. Group health insurance policy is one of the facilities provided by the employer. Also, due […]
Co-pay in group health insurance
For many young establishments, the costs associated with group health insurance might be daunting. So, if you want to provide your employees with the security of medical insurance without a considerable cost burden, you might want to consider a co-pay. This post attempts to help you better understand co-pay in group mediclaim insurance. What does […]
Factors influencing the premium of a group health policy
Group health insurance refers to medical insurance coverage for a group. Such a group mediclaim policy can be availed by employer-employees, banks and their customers, and clubs and their members. Which factors affect the premium of Group Health Insurance and how? A group’s size, average age, and occupation are important determiners of the premium of […]
Group health insurance — expiry and renewal
A group health insurance policy gives employers the opportunity to provide their employees with coverage for medical expenses. For employees too, a group insurance plan offers some advantages over individual policies. So, when does a group medical insurance policy expire? How can it be renewed? This post attempts to offer some clarity on these and […]
Which treatments are not covered under group health insurance plans?
Typically, individual health insurance plans specify exclusions. These are conditions or ailments that insurers do not cover. A significant advantage of group health insurance plans is that insurers often waive off many of these exclusions. However, in order to lower premium costs, some groups might accede to such exclusions. This post looks at some common […]
What Is Co-Pay In Insurance And How Does It Work?
Co-pay refers to the part of the claim amount in an insurance policy that is borne by the insured out of pocket. It is generally provided in a percentage term and is applicable on the claim amount in General Insurance Policies. It may range from 10% to 50% in health policies. In motor insurance, this […]
Group health cover for congenital diseases
It is possible that in reading insurance policy documents, you have encountered the term ‘congenital diseases’ cover in Group health insurance. This post attempts to help you understand the term better and situate it in the context of group medical insurance. Group health congenital diseases What are Congenital diseases? Diseases that exist at the time […]
Deductible in group insurance policy
Deductible in a group insurance policy Many companies purchase group insurance policies for their employees to help with medical expenses. However, many employee insurance schemes have a deductible clause. This post helps to understand the deductible clause and its implications. The deductible clause A deductible clause specifies a monetary sum that the employees will have […]
Family cover in group health insurance
This post sets out to clarify the interpretation of family in group health insurance. It also examines the implications of extending medical insurance cover to the families of employees. Family in the group health insurance context A group health insurance policy often extends cover to the families of group members in addition to the members […]
Paying Premiums for Group Mediclaim Insurance
A group medical insurance policy covers the members of a group under a single policy. Groups that are eligible to buy a group health insurance policy for their members include employer-employees, trade unions, and their members, clubs and their members, and banks and their account holders. New members are added to the group coverage either […]