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 […]
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 […]
Features of a Group Health Insurance Policy
The comprehensive features of a Group Health Insurance Policy go beyond the conventional coverage. From obtaining a health card and availing health checks to the myriad benefits like maternity coverage, tax benefits, and the hassle-free cashless claim facility, members get the various features that make choosing the right plan imperative. Insured get There are different […]
How do insurers determine the cost of Group Health Insurance Policy?
A group health insurance policy covers many individuals under a single policy. An insurer will issue a master group medical insurance policy to recognized groups. It will have the names of all insured members. When new individuals join the group, the policy covers them by default. So, there are various factors determining the cost of […]