Discover the comprehensive advantages of group health insurance and make an empowered decision for your organization’s well-being.
Group health insurance is a type of insurance coverage designed to provide healthcare benefits to a specific group of individuals, such as employees of a company or members of an organization. This type of insurance policy allows employers or organizations to offer affordable and comprehensive healthcare coverage to their employees or members, as the risk is spread across a larger group, resulting in lower premium costs.
For example, a small business owner with a team of 20 employees may opt for a group health insurance plan to provide healthcare coverage for their staff. By doing so, the employees gain access to medical benefits like hospitalization, doctor consultations, and prescription medications at reduced costs. The employer benefits by offering a valuable perk that can help attract and retain talent while improving the overall well-being and productivity of their workforce.
Group health insurance offers numerous advantages for both employees and employers. It provides equal access to quality healthcare and helps protect against rising medical expenses.
Group health insurance not only helps protect employees and their families from unexpected medical emergencies but also demonstrates a company’s commitment to their workforce’s well-being. This results in a positive work culture, increased employee satisfaction, and higher productivity levels.
Investing in group health insurance is a win-win for everyone, as it enhances the organization’s reputation while making a meaningful impact on employees’ lives. By prioritizing employee health and well-being, employers create a supportive and empathetic workplace culture that attracts and retains top talent while enjoying corporate tax incentives. Employees, in turn, benefit from a seamless claims process, free family coverage, and access to holistic well-being resources.
There’s no “one size fits all” when it comes to group health insurance. Companies of all sizes can benefit from these policies, especially when providers offer solutions tailored to each team’s unique needs. A minimum group size of 2 with Healthysure allows even the smallest of teams to access comprehensive coverage.
Group health insurance is perfect for early-stage startups, even for teams as small as two members. By offering group health insurance with a minimum group size of just two, startups can attract top talent from the very beginning. This demonstrates that the company prioritizes employee well-being and can help build a strong foundation for the startup’s future growth.
For SMEs experiencing growth, managing insurance administration can become time-consuming. Group health insurance allows businesses to streamline their operations and focus on more critical projects while ensuring their employees’ health is taken care of.
It’s essential for large organizations to benchmark their current insurance policy against industry standards to provide better benefits at a lower cost. Expert assistance can help analyze existing policies and guide decision-makers through a personalized insurance renewal journey.
The COVID-19 pandemic has significantly highlighted the importance of health, prompting the Indian government to take action. In April 2020, they made group health insurance mandatory for all commercial and industrial offices, workplaces, and establishments to offer group health insurance to their employees, ensuring better access to medical care and protection for the workforce.
Customise plans according to your team’s needs. Change the sum insured, covereage and other fine details like maternity coverage and PED coverage of the policy.
Flexible Coverage for Family Members:
Depending on the plan chosen by employer, employees can choose to include their spouse, dependent children, parents, and parent-in-laws in their group health insurance plan.
No medical screening is required under the group health plan.
Waived Waiting Periods:
Group health insurance plans often waive waiting periods for pre-existing conditions, ensuring coverage for critical illness, maternity, cataract, and more, starting from day one.
Pre Existing Diseases:
With group health insurance, employers can decide on covering pre-existing diseases.
Group health insurance plans offer a cashless process that allows employees to receive treatment at any network hospital without the need for upfront payment, reducing their financial burden.
Group health insurance plans often cover expenses incurred before hospitalization and after discharge, ensuring comprehensive protection for employees.
Added Health Benefits:
Many group health insurance policies include additional health benefits, such as outpatient consultations, routine health check-ups, and mental wellness support. These features encourage employees to proactively take care of their health
When choosing between Group Health Insurance and Individual Health Plans, it’s essential to understand the key differences between the two. Here’s a comparison to help you make an informed decision:
Group: Lower premiums due to risk being spread across the group.
Individual: Higher premiums since only one individual and their dependents are covered.
Group: Covers people with pre-existing diseases.
Individual: Does not cover pre-existing diseases, making affordable plans difficult to find.
Group: Company structures a common policy for all employees.
Individual: Allows policy structuring according to personal preferences.
Group: Plans can be claimed from day 1.
Individual: Typically includes a 30-day waiting period.
Group: Benefits chosen by the company, with some exclusive to group policies (e.g., telehealth consultations, wellness sessions).
Individual: Allows choice of benefits best suited for the individual and their dependents, but may require added costs for extra coverage.
With Healthysure, you get to customize your corporate plan according to your needs. You have a complete control over sum insured, fine details like maternity, room rent capping, options to selectively allow family members, etc.
The plan also depends on the demographics of the group (like age range).
Whether you are renewing your policy or buying it for the first time also affects the premium.
Our team at Healthysure understands your requirements and then gets you the best quotes from the insurers.
|Insurer||Claim Settlement Ratio||Cashless Hospital Network|
|Acko General Insurance||99%||6,500+|
|Aditya Birla Health Insurance||99%||10,000+|
|Bajaj Allianz General Insurance||99%||6500+|
|Care Health Insurance||99%||8,350+|
|Edelweiss General Insurance||99%||6500+|
|Future Generali India Insurance||99%||6,000+|
|Go Digit General Insurance||99%||8,500+|
|ICICI Lombard General Insurance||99%||6,500+|
|IFFCO Tokio General Insurance||99%||7,500+|
|Magma HDI General Insurance||99%||6,000+|
|ManipalCigna Health Insurance||99%||6,500+|
New India Assurance
|Niva Bupa Health Insurance||99%||8,600+|
|The Oriental Insurance||99%||6,500+|
|Raheja QBE General Insurance||99%||8,500+|
|Reliance General Insurance||99%||8,300+|
|Star Health & Allied Insurance||99%||8,500+|
|Tata AIG General Insurance||99%||7,200+|
Seamlessly manage your employee and their benefits with our employee benefits management platform.
Chatbots and automated replies are fine, but you also get a dedicated relationship manager.
Our partnerships with insurers allows us to get the best pricing for you.
Offer your employees more than insurance with Healthysure. Gym memberships, health checkups, teleconsultations, etc.
Healthysure’s partnership with India’s top insurers allows us to get you the best group health insurance quotes for your team
Our industry first product, Flexi-Topup Insurance is a ₹30 Lakh top-up with lifetime renewability with post-employement continuity options. Give your employees the flexiblity to voluntarily upgrade and add family members. Plans start at ₹883/year.
Yes, as per an April 1, 2020 circular issued by the Insurance Regulatory and Development Authority of India (IRDAI), it is mandatory for employees to provide health insurance to their employees.
With Healthysure, you can get health insurance coverage for as low as 2 members.
The benefits of group medical insurance for employees include:
Comprehensive coverage: Group health insurance plans often provide extensive coverage, including pre-existing conditions, critical illnesses, and maternity care, ensuring that employees and their dependents are well-protected.
Lower premiums: Group insurance plans generally come at lower premium rates compared to individual policies, making them more cost-effective for both employers and employees.
No waiting periods: Many group health insurance plans waive off waiting periods for pre-existing conditions, allowing employees to access coverage for certain treatments from day one.
Cashless treatment: Group insurance plans typically offer cashless treatments at network hospitals, reducing the financial burden on employees during medical emergencies.
Inclusive coverage: Employees can often include their family members, such as spouses, dependent children, and parents, under the group policy, extending the benefits to their loved ones.
Employee retention and satisfaction: Offering group health insurance can help employers attract and retain top talent, as employees value companies that provide comprehensive health benefits and wellness programs.
Improved productivity: Employees with access to quality healthcare are more likely to maintain good health, leading to increased productivity and reduced absenteeism in the workplace.
Overall, group medical insurance offers numerous benefits to both employees and employers, promoting a healthier work environment and fostering a strong sense of security and well-being among the workforce.
Group medical insurance offers numerous benefits for employers, including increased employee satisfaction, tax advantages, and enhanced productivity. Providing health coverage fosters a supportive work environment, helping attract and retain top talent. Employers can also enjoy certain tax savings, as premium contributions are typically tax-deductible. Additionally, healthier employees result in reduced absenteeism and increased efficiency, contributing to the overall success of the company.
Group health insurance policies are designed to provide healthcare coverage to a group of individuals, usually employees of a company. The employer selects a policy from an insurance provider, which then offers coverage to eligible employees and, in some cases, their dependents. Group insurance premiums are more affordable compared to an Individual policy with similar benefits. The policy outlines the benefits and coverage limits, and claim settlements are made directly between the insurance provider and the healthcare provider. Group health insurance offers cost-effective coverage, simplified administration, and access to quality healthcare for employees.
Group health insurance policy costs depend on factors such as the number of employees, sum insured, and selected benefits. To find the most suitable plan for your team, reach out to the Healthysure team for personalized quotes. Our experts will consider your company’s unique needs and guide you towards the ideal group health insurance plan, ensuring comprehensive coverage and cost-effective solutions for your organization.
Yes, small businesses can definitely take advantage of employee medical insurance. Healthysure is dedicated to making insurance more accessible and affordable for businesses of all sizes. With a minimum group size of just two, Healthysure enables even the smallest businesses to provide their employees with comprehensive health coverage. Contact our team today to learn more about our tailor-made solutions for your small business’s group health insurance needs.
While health check-ups are not mandatory to purchase group health insurance, Healthysure offers the option to include them in your plan. Employers can purchase health check-up plans as add-ons, providing a more comprehensive employee benefits package. These added benefits can include routine examinations, diagnostic tests, and preventive screenings, fostering a healthier workforce, and demonstrating your company’s commitment to employee wellbeing. Reach out to Healthysure for tailored solutions that cater to your organization’s unique needs.
A waiting period in group health insurance refers to the time an employee must wait before their coverage begins. Group Health Insurance provides your employees with a zero waiting period meaning employees enjoy immediate coverage upon enrollment in the plan.
Yes, you have an option to cover pre-existing diseases with group insurance.
Have more question regarding your existing policy or the the plan that works for your team? Let our group health insurance experts help you!
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