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 […]
How to buy a Group Health Policy?
A Group Health policy is a health insurance cover that provides protection to a group of people who can be members of a society, the employees of a common employer, or the professionals in a common group. Employers usually take a group health policy for their employees to cover their medical risks and expenses. Health […]
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 […]
The benefits of employee group health insurance
Employee group health insurance is a type of insurance policy purchased by employers to provide healthcare coverage to their employees. It typically covers medical expenses such as hospitalization, surgeries, and medical consultations. Group health insurance policies are affordable and provide coverage for pre-existing medical conditions, making them a popular employee benefit. Employers can choose to […]
What is Group Health Insurance Plans?
Group health insurance plans are a type of medical insurance package that covers a group of people, or employees working in an organization, or of a society, or of a registered residential apartment. The plan covers medical benefits for the employees (insured), their spouse, their children, and the dependent parents (if mentioned). The consolidated premium […]
What are the advantages of a Group Health Insurance ?
What are the advantages of Group Health Insurance? Group health insurance offers coverage to a group of people, as members of a society or employees of a company. The organization can either self-design a plan or choose a pre-planned insurance policy from the insurer. The policy is beneficial for both employees and employers. Let’s have […]
How many employees a company should have to buy a Group Mediclaim Policy?
The country’s insurance regulator, IRDA, issued an exposure draft on January 19, 2016. IRDA mandated a minimum group size of 20 individuals for group mediclaim policy in their January 19, 2016 exposure draft. The criteria in the first paragraph apply at the policy’s issuance. However, group mediclaim policy allows family inclusion if the group has […]
What are the different types of Health Insurance plans to cover medical costs
There are multiple types of health insurance plans available to provide for the various health-related expenses incurred by individuals. However, by buyer eligibility we can divide all plans into three broad classes: Group Health Insurance – Group Health Insurance refers to a policy that provides medical coverage to a group of individuals, typically employees of […]
Benefits of group health insurance for Indian SMEs
Group health insurance plans form one of the popular benefits among employees in India, given increasing healthcare costs. Small- and medium-sized enterprises (SMEs) in India are under pressure to offer similar benefits to retain their employees. Given that SMEs expend considerable resources on training staff, they would be keen to avoid losing their employees to […]