Why one needs Group Health insurance?
In today’s uncertain times, having a Group Health Insurance policy or Group Medical Insurance has become increasingly essential for both employers and employees. A comprehensive group health plan not only provides financial protection to employees and their families but also benefits employers by attracting and retaining a talented workforce.
This short video blog article aims to explain the importance of having a Group Insurance policy for employees’ and employers’ perspectives, shedding light on the benefits and features of such policies.
Case Study
ABC Company, which has been operating for several years and employs 75 people, took measures to safeguard its workforce by acquiring a group health coverage that provided coverage of Rs. 3,00,000 per employee and also extended to their dependent family members. Recently, Anil, a logistics manager, suffered from an asthma attack while on duty and was promptly taken to the hospital by his colleagues. Although the attack was minor, Anil incurred medical expenses amounting to Rs. 80,000 during his four-day hospitalization, and was discharged on the sixth day.
The employer-provided policy had various features that covered all of Anil’s medical expenses, such as ambulance charges, hospitalization bills, and post-hospitalization expenses. Therefore, it’s essential to take note of such features when selecting group health insurance for employees.
Why do I need Group Health Insurance?
Group Health Insurance Policy is an insurance plan which is offered by the employers to their employees. This policy is not only advantageous or the employers but also for the employees in many ways.
Advantages for the employers:
- Provided you with tax benefits
- Provides superior health benefits to you and your team
- Costs significantly less than individual health policies
- Creates motivated employees
- Attracts better talent to join you
- Helps in employee retention
Advantages for the employees:
- Provided employees with peace of mind and keeps them motivated at work
- Offers better illness treatment covers than individual health insurance policies
- Required not prior health checkup to issue policy
- Feature zero waiting periods for start of the coverage and no disease-wise treatment limits
- Cover pre-existing diseases from Day 1
- Offer high maternity benefits for both normal and caesarean deliveries
To sum up, organizations- big and small- should buy Group or Corporate Health Insurance for employees to cover their medical expenses along with various other benefits. Understanding the policy’s terms and conditions is crucial to ensure a hassle-free claims process.
If you require guidance in selecting the right group health coverage, we can assist you with the same.
For any queries, please visit SecureNow website visit: https://securenow.in/group-insurance/group-health-insurance
Contact us at 96966 83999 or email us at support@secuenow.in with your coverage needs.
