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 […]
How to minimize cost for employees group insurance policy
Nowadays most organizations offer employees Group Insurance Policy. Group insurance policies like group health insurance, group term insurance, etc.; are some of the policies which are offered to employees. On the one hand, these insurance policies bolster the morale of employees, on the other, these are an added cost to the insurance company. To minimize […]
Are group health plans cheaper than individual ones?
Are you wondering whether the group health insurance plans your employer offers are cheaper than the individual health insurance plans you may buy? Then, this post is for you. It is easy to say that group health insurance policies are cheaper than individual ones for the reasons discussed below. However, it might be more reasonable […]
How to Negotiate Best Price for Group Health Insurance for Employees
It is a good move to offer group health insurance to your employees. In fact, this insurance will not only help you keep your employees motivated, but it will also help you save taxes. While it is beneficial to have group mediclaim insurance for your employees, there are some ways through which you can negotiate […]
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 […]
How can the premium rates be set for employee group health insurance plans
Employers buy group health insurance plans for their employees as a part of their employee benefits program. These plans provide affordable coverage to existing as well as new employees of the organization. The sum insured is determined by the employer or organization and might depend on the employee’s income level, designation in the organizational hierarchy, […]
How does renewal pricing work for group health insurance?
A group health insurance policy covers multiple members of a group under its scope. Insured a single policy covering all the members and the policy, called a Master Policy. While issuing the group health insurance policy, the insurance company fixes the premium of the policy based on the following factors – The type of group […]