Group health insurance offers many benefits to employees, or their members, covered under the policy. Complete hospitalization expenses incurred by an employee on self and dependents like spouse, family, and parents, covered under a group health insurance.
A group health insurance policy is provided to incentivize employees. Every employee has the benefit of group health insurance from day 1 of joining the company, as no medical underwriting is required to buy this policy.
Know what is covered.
- If the insured has any pre-existing disease, usually covered by group health insurance. There is no medical screening required for group health insurance
- Some insurance providers explicitly cover pre-existing illness and provide maternity cover
- Associated expenses with pre-existing illnesses covered
- An insured has an option to extend cover to include spouse or kids
- An insured can extend the coverage to include parents (senior citizens). Even if they are suffering from critical illnesses, the cover will be provided
- Also covers chronic illnesses like diabetes, arthritis
- Hospitalization expenses incurred by an insured may also cover
- Covers Emergency ambulance charges
- Cashless hospitalization feature is available to the insured
- Some insurers included a provision of personal room rental cover eligibility
- Covers Pre and post hospitalization expenses
- Also covers Daycare procedures
Case-study
Employees’ Perspective
Mr. Rao is a 45-year-old employee of a multinational company. He is a part of a group health insurance cover provided by his company.
Rao is a diabetic. One day he suffered from a low insulin level and was admitted to a nearby hospital for insulin shots. Therefore, his hospital stay lasted for 3 days, and the total medical expenditure came out to Rs. 20,000 after discharge. Rao approached his employer to cover his medical expenses which were included under a group health insurance policy.
Rao has also extended the insurance policy cover to include his parents. Rao’s father has arthritis, and the family doctor has advised knee replacement surgery. If the surgery happens, Rao can get the medical expenses along with post-hospitalization care expenses under his group health insurance cover.
Employers’ Perspective
Gujral Enterprises, is a budding software solutions firm, with business spreading to many European countries and within India. Though there are plenty of qualified and talented software professionals available in Bangalore and Gurugram (two places where the company has offices), Gujral Enterprises faces a tough time in hiring the best.
Recently their new Human Resource Director, Sanjeet Chauhan, pointed out that the company does not have any support system for employees who fall sick or need hospitalization, whereas, almost all the competitors of the firms offer the benefit.
He further quipped that the best industry professionals spend a lot of time sitting with their computers and end up suffering from various health issues that accompany this kind of lifestyle, like, obesity, blood pressure, diabetes, etc.
He propagated that the firm needs a group health policy, not only for creating parity with the employee benefits of the competition, but also to provide these best minds a health care system at a reasonable price.
The news brought a new level of comfort to the employees, especially those who really enjoyed working in the challenging environment at Gujral Ent. The group health plan’s availability improved the acceptance rate for the job offers at Gujral and has also helped boost employee confidence, as they all accessed the benefits document shared by Sanjeet.
