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 do not provide all the benefits which are available in an individual policy, they seem to be more relaxed. This guideline is extremely […]
What are the options for a company to buy insurance for expat employees?
Most companies now have global operations. The statutory laws of the foreign land may require them in order to provide coverage. To expat employees working in their respective geography. Since in most countries the local law regulates insurance while buying the for expat employees. It is important to ensure that the policy is admissible in […]
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 […]
How can deductible and co-pay help in lowering the prices for Group Health Insurance?
How deductible & co-pay help keep Group Health insurance prices low? Group health insurance pricing is a function of claims record, number 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 […]
How can a maternity claim be shared between 2 health insurance policies?
It is common for insurers to cover maternity-related expenses in a health insurance policy. However since maternity claims are frequent, insurers cover them for a restricted policy sub-limit which is commonly between INR 50K – INR 1L. Can you claim maternity expenses from multiple health insurance policies? The total expenses incurred in maternity far exceed […]
What are the key features that a startup should evaluate in a GMC Policy?
A Group Mediclaim (GMC) policy is the most common employee benefits policy for any company. It is a tailor-made program, i.e., it gives you complete choice in personalizing the benefits, terms, and conditions. Therefore, companies design policy benefits with features that appeal more to the target audience – the employees. Following are the key points […]
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 […]
The need for 30-day enrolment for new hires
In an employer-employee context, group health insurance is when an employer buys medical insurance that covers their employees. However, the number of employees in an organization can change frequently, with people leaving the firm as well as joining it. Organizations have to update corporate health insurance policies to reflect these changes. This addition and deletion […]
Should you select Group Mediclaim based on premium?
Offering a good group medical insurance plan can give employees a sense of security help retain the best talent and strengthen their motivation to drive your business towards heights of success. As an employer, you can get tax benefits on the amount of premium paid towards the group medical insurance policy. Corporate health insurance companies are […]
Things to remember when choosing group health insurance
The importance of medical insurance has only increased post-Covid-19. For employers, this means selecting the right group of health insurance for their employees. Choosing the best group mediclaim policy would be one that offers the maximum benefits at a reasonable cost. If you are an employer looking to purchase corporate health insurance, here are […]