It is a good move to offer a group health insurance to your employees. In fact, your group health insurance will not only help you keep your employees motivated, but it will also help you save taxes. While it is beneficial to have a group health insurance for your employees, there are some ways through which you can negotiate the best price for group health insurance for your employees=

  1. If the number of your employees is large, you can ask your group health insurance to offer you discounted premium rates. Most of the group health insurance companies would be keen to offer you group mediclaim policy in case there are good numbers of employees
  1. Though ailments can strike even a young person; you can ask for easy group health insurance premium rates if your workforce consists of people below 40 of age. Young people may not fall ill frequently, and therefore, there would be a fewer number of health insurance claims. This fact can help you get easy premium rates
  1. There are various group health insurance companies in India, and each one of them is offering different health plans with varied features. In order to negotiate the best price for group health insurance for your employees, make sure to make a proper comparison among the available options in order to find the best. To choose the right insurance policy from the available options, you can exercise any of the following options-
  • Compare on your own= If you exercise this option, you would have to approach different group health insurance companies on your own and ask them to submit their quotes. Then you would have to compare them and find the apt plan as per your needs.
  • Take the help of corporate insurance advisors= You can approach the corporate insurance advisor like SecureNow who would help you choose the right group health insurance from the available options. You would only need to submit some basic details about your requirements, and SecureNow would recommend some good options as per your need. It will not only save your time but would also help you find the right group health insurance policy as per your need.

Case: 1

From the last five years, R.J Automobiles has carved a niche for itself in the automobile industry. Backed with more than 500 employees, the company has its offices situated in different parts of India. Last year, the company bought a group health insurance policy from the Insurer A.

Before buying the insurance policy from the Insurer A, R.J Automobiles carefully compared all the available options. As the company was buying insurance for its 500 employees, it was looking for an affordable option.

The HR department of the company asked for insurance quotes from different group health insurers in India and then compare all of them to find the right group health insurance policy for its employees. Considering the number of employees, the Insurer A agreed to offer low premium rates. The HR department of the company scrutinized the features of group health insurance policy offered by the Insurer A. Only after satisfying with its feature, R.J Automobile bought the group health insurance policy from the Insurer A. It was the number of employees’ due to which R.J Automobiles was able to get low premium rates on its group health insurance policy.

Case: 2

Though, its been only one year that L.S Digital Company has come into existence, the company has successfully managed to grab the attention of big brands. Running on the ‘young’ blood, the company is now planning to offer group health insurance to its employees.

Read More: What is Family Floater Sum Assured in Group Health Insurance?

Since most of its employees are young, the company can negotiate with a group health insurance company and go for low premium rates on group health insurance policy. Though there is no guarantee, however, young people usually do not fall sick frequently, and therefore, they would not use the insurance policy frequently.

Here, the age of the employees would play a major role, and L.S Digital Company would be able to easily find a group health insurer offering easy premium rates on group health insurance policy.