{"id":4917,"date":"2017-07-31T06:18:30","date_gmt":"2017-07-31T06:18:30","guid":{"rendered":"https:\/\/securenow.in\/blog\/?p=4917"},"modified":"2026-03-20T06:37:46","modified_gmt":"2026-03-20T06:37:46","slug":"looking-group-health-insurance-firm-4-points-consider","status":"publish","type":"post","link":"https:\/\/securenow.in\/insuropedia\/looking-group-health-insurance-firm-4-points-consider\/","title":{"rendered":"Looking for a group health insurance for your firm? 4 points to consider"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p><span style=\"font-weight: 400;\">Offering group health insurance to employees is a great idea. Not only does it help in attracting top talent to your company, but you can also avail a lot of benefits as an employer including tax benefits. <\/span><span style=\"font-weight: 400;\">So, if you are looking for group health insurance for your firm, here are some points that you should consider \u2013<\/span><\/p>\n<h2 data-path-to-node=\"5\">Key Takeaways<\/h2>\n<ul data-path-to-node=\"6\">\n<li>\n<p data-path-to-node=\"6,0,0\"><b data-path-to-node=\"6,0,0\" data-index-in-node=\"0\">Avoid the &#8220;Cheap&#8221; Trap:<\/b> Lower premiums often mean lower coverage or poor customer support. A plan&#8217;s value is defined by its features and reliability, not just its price tag.<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"6,1,0\"><b data-path-to-node=\"6,1,0\" data-index-in-node=\"0\">Inflation-Ready Coverage:<\/b> With medical costs rising rapidly, a minimum of Rs 5 lakh is suggested. This should be reviewed and potentially increased during every annual renewal.<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"6,2,0\"><b data-path-to-node=\"6,2,0\" data-index-in-node=\"0\">Due Diligence Matters:<\/b> Conduct reference checks with existing corporate clients of an insurance company to gauge their actual performance and claim settlement efficiency.<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"6,3,0\"><b data-path-to-node=\"6,3,0\" data-index-in-node=\"0\">Read the Fine Print:<\/b> Be vigilant about &#8220;capping&#8221; (limits on specific expenses) and exclusions like maternity or pre-existing conditions that could impact your team.<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"6,4,0\"><b data-path-to-node=\"6,4,0\" data-index-in-node=\"0\">Operational Ease:<\/b> An efficient insurer should minimize the administrative burden on your HR department by automating the process of updating the employee database.<\/p>\n<\/li>\n<\/ul>\n<ol>\n<li>\n<h3><b> Don\u2019t let price rule your decision \u2013<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\"> While buying <\/span><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">group health insurance<\/span><\/span><span style=\"font-weight: 400;\">, it is obvious to get inclined towards those plans which come with low price tags. However, if you choose the plan on the basis of the price only, the chances are high that you will choose the lower cover.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, it could happen that the insurance company offering lower premiums could have poor customer service. So, don\u2019t make price the only yardstick of buying a group health insurance policy, look for other features as well.<\/span><\/p>\n<ol start=\"2\">\n<li>\n<h3><b> Choose sufficient coverage-<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\"> According to <\/span><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.willistowerswatson.com\/en-IN\/Insights\/2019\/11\/2020-global-medical-trends-survey-report\"><span style=\"font-weight: 400;\">reports<\/span><\/a><\/span><span style=\"font-weight: 400;\">, medical inflation is rising at an alarming rate. In fact, one visit to the doctor is enough to disrupt the monthly budget of a middle-class family. While deciding the coverage for your employees, make sure the cover is sufficient enough to help them deal with medical expenses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, go with a minimum of Rs 5 lakh coverage under a group health insurance plan. Every year at the time of policy renewal, you can consider increasing your employer\u2019s health cover in accordance with the inflation rate.<\/span><\/p>\n<p><b>Additional Read: <\/b><span style=\"text-decoration: underline;\"><span style=\"font-weight: 400;\">What Should You Include in Your Group Health Insurance Policy?<\/span><\/span><\/p>\n<ol start=\"3\">\n<li>\n<h3><b> Take a well-thought decision-<\/b><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\"> It is about the health of your employees, and therefore, carefully assess all the available options before finalizing the health insurance plan. For this, it requires the proper evaluation of your employees\u2019 needs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When deciding on the insurance company, it is necessary to weigh the premium and service aspects carefully. It is strongly advised to conduct reference checks with the current customers of group health insurance companies and get their feedback.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you choose a good group health insurance for your firm, it helps your employees get the best possible deals. An efficient insurance company can also add\/delete employee records without much of your intervention.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Further, it is necessary to check the list of network hospitals\/clinics where your employees can seek cashless treatment. It&#8217;s useful to go with a group health insurance company, tied up with a wide network of hospitals and clinics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While some insurance companies hire a Third-Party to handle their claims, called Third-Party Administrator (TPA), many insurers handle claims internally. Though there is nothing wrong with going with a health insurer who settles claims via TPA; it is worthwhile to know the time taken by them for settling claims.<\/span><\/p>\n<ol start=\"4\">\n<li>\n<h3><b> Read the Policy Document Carefully<\/b><span style=\"font-weight: 400;\">&#8211; <\/span><\/h3>\n<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">The group health insurance policy can have a major impact on your employees should the need arise. Some insurance providers impose a capping on the insurance cover they offer. While some exclude certain ailments or conditions, like maternity, etc. It is crucial to pay attention to these details as well.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Similarly, if your employees are situated overseas as well or frequently travel abroad. Then you can opt for worldwide coverage in your group health insurance policy also.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While choosing the insurance policy for your employees consider the benefits that you would like to have in your insurance policy and then pick the policy accordingly.<\/span><\/p>\n<h3>Summary Table: Choosing Group Health Insurance<\/h3>\n<table data-path-to-node=\"3\">\n<thead>\n<tr>\n<td><strong>Critical Factor<\/strong><\/td>\n<td><strong>Key Recommendation<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"3,1,0,0\"><b data-path-to-node=\"3,1,0,0\" data-index-in-node=\"0\">Minimum Cover<\/b><\/span><\/td>\n<td><span data-path-to-node=\"3,1,1,0\">Start at <b data-path-to-node=\"3,1,1,0\" data-index-in-node=\"9\">Rs 5 lakh<\/b> to combat medical inflation.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"3,2,0,0\"><b data-path-to-node=\"3,2,0,0\" data-index-in-node=\"0\">Price vs. Quality<\/b><\/span><\/td>\n<td><span data-path-to-node=\"3,2,1,0\">Avoid picking based on low premiums alone; consider service quality.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"3,3,0,0\"><b data-path-to-node=\"3,3,0,0\" data-index-in-node=\"0\">Network Reach<\/b><\/span><\/td>\n<td><span data-path-to-node=\"3,3,1,0\">Prioritize insurers with a wide network of clinics and hospitals for cashless care.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"3,4,0,0\"><b data-path-to-node=\"3,4,0,0\" data-index-in-node=\"0\">Claim Management<\/b><\/span><\/td>\n<td><span data-path-to-node=\"3,4,1,0\">Evaluate whether the insurer uses a TPA or an in-house team for settlement speed.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"3,5,0,0\"><b data-path-to-node=\"3,5,0,0\" data-index-in-node=\"0\">Policy Scope<\/b><\/span><\/td>\n<td><span data-path-to-node=\"3,5,1,0\">Look for specifics like maternity cover, room rent caps, and worldwide coverage.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"3,6,0,0\"><b data-path-to-node=\"3,6,0,0\" data-index-in-node=\"0\">Administration<\/b><\/span><\/td>\n<td><span data-path-to-node=\"3,6,1,0\">Choose insurers that allow easy addition\/deletion of employee records.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Additional Read:<\/b> <span style=\"text-decoration: underline;\"><a href=\"https:\/\/securenow.in\/insuropedia\/what-are-the-advantages-of-a-group-health-insurance\/\"><span style=\"font-weight: 400;\">What are the advantages of Group Health Insurance?<\/span><\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Buying a group health insurance policy is a great morale booster for your employees. It instills a sense of security and belongingness.\u00a0 And therefore, it is indispensable to choose the right group health insurance policy.\u00a0<\/span><\/p>\n<h3 data-path-to-node=\"8\">Frequently Asked Questions (FAQs)<\/h3>\n<h4 data-path-to-node=\"9\"><b data-path-to-node=\"9\" data-index-in-node=\"0\">1. Why is Rs 5 lakh considered the minimum recommended cover for employees?<\/b><\/h4>\n<p data-path-to-node=\"9\"><strong>A)<\/strong> Given the current rate of medical inflation, lower covers often fail to meet the actual costs of hospitalization for serious ailments. A 5 lakh base ensures that a single medical emergency doesn&#8217;t lead to out-of-pocket expenses for a middle-class family.<\/p>\n<h4 data-path-to-node=\"10\"><b data-path-to-node=\"10\" data-index-in-node=\"0\">2. Is it better to have an insurance company that uses a Third-Party Administrator (TPA)?<\/b><\/h4>\n<p data-path-to-node=\"10\"><strong>A)<\/strong> Not necessarily. While many insurers use TPAs to manage claims, the most important factor is the <b data-path-to-node=\"10\" data-index-in-node=\"187\">turnaround time<\/b>. Whether it is an in-house team or a TPA, you should verify their reputation for settling claims quickly and fairly.<\/p>\n<h4 data-path-to-node=\"11\"><b data-path-to-node=\"11\" data-index-in-node=\"0\">3. Can I customize the policy to cover employees who travel for work?<\/b><\/h4>\n<p data-path-to-node=\"11\"><strong>A)<\/strong> Yes. If your team frequently travels or is based overseas, you should specifically look for &#8220;Worldwide Coverage&#8221; extensions in your policy to ensure they are protected regardless of their location.<\/p>\n<h4 data-path-to-node=\"12\"><b data-path-to-node=\"12\" data-index-in-node=\"0\">4. What should I check regarding hospital networks?<\/b><\/h4>\n<p data-path-to-node=\"12\"><strong>A)<\/strong> You should verify that the insurer has a &#8220;Cashless Treatment&#8221; tie-up with major hospitals and clinics specifically in the areas where your employees reside. A large network is useless if it doesn&#8217;t include the facilities near your team.<\/p>\n<h4 data-path-to-node=\"13\"><b data-path-to-node=\"13\" data-index-in-node=\"0\">5. How often should a group health insurance policy be reviewed?<\/b><\/h4>\n<p data-path-to-node=\"13\"><strong>A)<\/strong> Policies should be reviewed <b data-path-to-node=\"13\" data-index-in-node=\"93\">annually<\/b> at the time of renewal. This allows you to adjust the sum insured based on inflation, add new benefits like maternity or dental, and reassess the insurer\u2019s service performance over the past year.<\/p>\n<p><script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Why is Rs 5 lakh considered the minimum recommended cover for employees?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Given the current rate of medical inflation, lower covers often fail to meet the actual costs of hospitalization for serious ailments. A 5 lakh base ensures that a single medical emergency doesn't lead to out-of-pocket expenses for a middle-class family.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Is it better to have an insurance company that uses a Third-Party Administrator (TPA)?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Not necessarily. While many insurers use TPAs to manage claims, the most important factor is the turnaround time. Whether it is an in-house team or a TPA, you should verify their reputation for settling claims quickly and fairly.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Can I customize the policy to cover employees who travel for work?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Yes. If your team frequently travels or is based overseas, you should specifically look for \\\"Worldwide Coverage\\\" extensions in your policy to ensure they are protected regardless of their location.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What should I check regarding hospital networks?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"You should verify that the insurer has a \\\"Cashless Treatment\\\" tie-up with major hospitals and clinics specifically in the areas where your employees reside. A large network is useless if it doesn't include the facilities near your team.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How often should a group health insurance policy be reviewed?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Policies should be reviewed annually at the time of renewal. This allows you to adjust the sum insured based on inflation, add new benefits like maternity or dental, and reassess the insurer\u2019s service performance over the past year.\"\n      }\n    }\n  ]\n}\n<\/script><\/p>\n<h4><b>About The Author<\/b><\/h4>\n<p><strong>Mayank Sharma\u00a0<\/strong><\/p>\n<p><strong>MBA Finance<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">He is a professional who brings extensive knowledge and expertise to the field of group health insurance. He has dedicated 7years to helping individuals and businesses navigate the complexities of insurance. Having worked closely with numerous clients and insurance providers, he deeply understands the nuances of group health insurance policies. With a reputation for providing insightful and informative content, he leverages his industry experience to educate readers about the importance of group health insurance and its benefits. Through their articles, Mayank Sharma aims to empower individuals and businesses to make informed decisions about their healthcare coverage, ultimately promoting healthier and more secure communities.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Offering group health insurance to employees is a great idea. Not only does it help in attracting top talent to your company, but you can also avail a lot of benefits as an employer including tax benefits. So, if you are looking for group health insurance for your firm, here are some points that you [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":4918,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_lmt_disableupdate":"no","_lmt_disable":"no","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1,283],"tags":[48],"class_list":["post-4917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-health-insurance","category-buying-process-group-health-insurance","tag-group-health-insurance"],"acf":[],"modified_by":"SecureNow","_links":{"self":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts\/4917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/comments?post=4917"}],"version-history":[{"count":17,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts\/4917\/revisions"}],"predecessor-version":[{"id":34050,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/posts\/4917\/revisions\/34050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/media?parent=4917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/categories?post=4917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/securenow.in\/insuropedia\/wp-json\/wp\/v2\/tags?post=4917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}