Group Medical insurance covers a large number of people under a single policy. Usually offered by employers or organizations to its members. The content or specifics of Group Mediclaim Insurance policies differ from one organization to another. However, the general inclusions are: Hospitalization related expenses This includes treatment expenses incurred during the stay in the […]
What are the benefits of a group health insurance?
The importance of health insurance is known to everyone. There are multiple types of health insurance plans available in the market. These include individual plans, family floater plans, unit-linked health insurance plans, and group mediclaim. While a lot is known about the first three types of health plans (as we select the service provider and […]
General exclusions under group health insurance
With healthcare costs rising every year, health insurance is a great form of compensation for employees. Additionally, group health insurance plans provide tax benefits for employers and help them hire and retain good employees. Employers purchase group health insurance policies for all their eligible employees. Such policies usually cost less than individual policies since the […]
Why you are advised to buy an independent health plan even after being covered by a GMC
If you are a salaried employee, chances are that you are enjoying an employer-sponsored group mediclaim policy. If the employer is paying the premiums of the policy under its employee benefits program, the coverage is even free for you. Alternatively, you might also enjoy group health insurance coverage by being the account holder of a […]
What features are available for group health insurance for employees?
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 […]
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. Key Takeaways Visibility Matters: Congenital anomalies are categorized into internal (like heart defects or […]
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. Key Takeaways Deductible vs. Co-pay: A deductible is a fixed amount (e.g., ₹10,000) you pay […]