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Group Health Insurance Policy for Employees

Secure your Employees with a Group Mediclaim Policy

After years of hard work, your Company has reached the big stage. Your employees were part of the ups and downs, highs and lows. You couldn’t have done it without your employees. The employees have given their life for the growth of the organisation.

But do you take care of your employees?

Your employees may be going through their own trials and tribulations in their personal lives. A Spouse may be suffering from Cancer or maybe a Child has met with an Accident.

All these Ailments and Injuries require hospitalisation and the treatment requires substantial financial resources. Such unplanned expenses may lead to financial distress for the employee.

An advantage of a Group Health Insurance Policy (also known as Group Mediclaim Insurance or Corporate Health Insurance Policy) is that will assist your employees during such tough times by reimbursing them for their hospitalisation expenses and this is very important. 

Group Health Insurance Policy for Employees

What is an Employee Group Health Insurance Policy?

An Employer Group Health Insurance Policy (also known as Group Mediclaim Insurance Policy for Employees) is an Insurance Policy which reimburses the employees for the hospitalisation expenses incurred by the employees during the year. A Group Health Insurance Plan covers a group of people under a common health insurance plan. Usually, a company purchases Group Health Insurance Policy for employees.

Why should you purchase an Employee Group Health Insurance Policy for your organisation?

There are many advantages to insuring your employees with a Group Health Insurance Policy:

  1. A Group Mediclaim Policy for employees boosts their morale. Happy employees result in higher productivity which ultimately benefits the company.
  2. It also helps attract better employees since they are aware that their medical expenses are taken care of with a good Corporate Health Insurance Plan should such a need arise.
  3. Premium paid by the employers for a Group Mediclaim Policy is a Tax-Deductible Expense.

Remember a well-motivated workforce is the biggest asset of your organisation and you as an employer can do your part by providing your employees with a good Group Mediclaim Policy.

How many employees do you need to purchase a Group Health Insurance Policy?

Most Insurance Companies require a group size of 50 employees for a Group Health Insurance Policy. Group Health Insurance Policy is also available for small businesses and some insurance companies do offer a GMC Policy for Employee Size of as little as 15 employees

You can read our detailed blogpost on Group Health Insurance Policy for Small Business.

Who is eligible for Group Health Insurance for Employees?

The following groups can opt for a Group Health Insurance Policy:

  1. A Company can take a Group Mediclaim Insurance Policy for its employees and their families
  2. Registered Service Clubs can avail a Group Health insurance Policy for its Members
  3. Credit Card Companies or Banks can opt for Group Health Insurance for its Members

Are Employer Group Health Insurance premiums Tax-Deductible?

Yes, Group Health Insurance Premiums are a Tax-Deductible Expense for the Company which pays the Premium.

What are the features of a Group Health Insurance Policy?

A Group Health Insurance Policy offers various benefits depending on the Group Health Insurance Plan selected by the employer. Some common fetures of a Group Health Insurance Policy are as follows:

  1. Cover for Hospitalisation Expenses: All Group Health Insurance Policies offer cover for hospitalisation expenses incurred by the employees during their treatment.
  2. Cover for Pre and Post-Hospitalisation Expenses: In addition to cover for Hospitalisation expenses, most Group Mediclaim Insurance Policy for Employees will provide cover for Pre and Post-Hospitalisaiton expenses, usually for 30 days and 60 days respectively.
  3. Room Rent Limit: Group Health Insurance Plans will specify a room rent limit (for eg: 1% and 2% of Sum Insured for Normal and ICU Rooms). The Policy will thus pay the room rent only upto the limit specified. You can opt for a Group Health Insurance Plan with no room rent capping as well.
  4. Maternity Cover and New Born Baby Cover: Some Group Health Insurance Policies also provide coverage for delivery expenses as well as expenses incurred on the new-born baby if this feature is opted for
  5. Pre-Existing Diseases Cover: Most Group Health Insurance Policies will provide cover for Pre-Existing Diseases without any waiting period. This is a big advantage over individual health insurance plans which have a waiting period of Pre-Existing Disease of 3-4 years.
  6. Domicilliary Hospitalisation Cover: Some Group Health Insurance Plans offer benefit of Domiciliary Hospitalisation which provides reimbursement for treatment availed at home if the Insured Employee is unable to get hospitalised.
  7. Day Care Procedures: Most Group Health Insurance Plans have a list of Day Care Procedures which are covered. Day Care Procedures are procedures which do not require any hospitalisation.
  8. Cashless Hospitalisation: Most Group Mediclaim Insurance Policy for employees have a network of cashless hospitalis where the Insured can avail treatment without paying treatment expenses out of their own pocket. The Insurance Companies directly reimburse the hospitals for the treatment costs in case of Cashless Claims Settlement.

How to purchase a Group Health Insurance Policy?

Group Health Insurance Providers require the following details for a Group Health Insurance Policy:

  • Employee Name
  • Employee Gender
  • Employee Date of Birth and Age
  • Sum Insured required for each employee
  • Features Required in the policy
  • Claims History in the previous Group Mediclaim Insurance Policy

A Group Mediclaim Policy for Employees can be purchased with the assistance of an Insurance Broker who will help you with the best options among the various Grou Health Insurance Providers at Reasonable Premiums.

How to purchase a Group Health Insurance Policy?

How to make a claim under a Group Health Insurance Policy?

An Employee would need to provide the following documents to make a claim under a Group Health Insurance Policy:

  • Photo Identification Proof
  • Duly Filled and Signed Claim Form
  • Address Proof
  • Medical Reports
  • Cancelled Cheque of the employee
  • Diagnostic Reports
  • GMC Policy E-Card
  • Doctor Prescriptions
  • Hospital Bills, Pharmacy Bills
  • Discharge Summary
How to make a claim under a Group Health Insurance Policy?
Competitive Quotes
Competitive Quotes
No Room Rent Capping
No Room Rent Capping
Pre Existing Disease Covered from Day 1
Pre Existing Disease Covered from Day 1
Cashless Claims Settlement at Network Hospitals
Cashless Claims Settlement at Network Hospitals
Cover for Small Employee Groups
Cover for Small Employee Groups
Coverage for Maternity Expenses, New Born Baby
Coverage for Maternity Expenses, New Born Baby

Why should I Purchase a Group Health Insurance Policy through an Insurance Broker?

An Insurance Broker has tie ups with multitude of Insurance Companies thus enabling competitive sourcing of quotes.

With the assistance of an Insurance Broker, you can ensure that you have selected the best Group Health Insurance Plan with the best coverages for your employees. An Insurance Broker for Group Health Insurance will also be of great help in servicing of employee claims.

Why should I Purchase a Group Health Insurance Policy through an Insurance Broker?

Get a Free 1 Hour Consultation for your Group Health Insurance Policy!

Qian has an outstanding service record and has worked with corporates across industries to assist them with their Group Mediclaim needs. We have settled more than 95% of the GMC Claims with great satisfaction and fast turnarounds.

If you wish to purchase a Group Health Insurance Policy for your organisation, feel free to reach out to us at  support@qian.co.in or 022-22044989 or fill this Contact Form. We will get back to you within 24 hours, guaranteed.

Get a Free 1 Hour Consultation for your Group Health Insurance Policy!

FAQS

Yes, Group Mediclaim Policies or Corporate Health Insurance Policies cover Pre-Existing Diseases.

Testimonials

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5 / 5 Star (2 reviews)

Qian Insurance Broking is our Insurance Broker for our Employee Group Health Insurance Policy. The team at Qian assisted us with competitive quotes for our Group Mediclaim Policy and the Policy was issued in just 3 days. The claims have also be

Darshan Mehta
Partner, Lab Medica Healthcare LLP

The claim process had been one of the smoothest. The way people helped me through the hospitalization was great and without any hassle.

Paras Jain
Finance Strategist , Lights Out Studio