Health Insurance: Group health insurance plan is a health insurance policy provided to a group of individuals. Through this plan, companies get the facility to buy health insurance for their employees. In this, the premium of the policy is paid by the employer. All employees and family members can take advantage of this policy. Group health insurance plan is beneficial for the employees as well as the employer. This provides health coverage to the employees, while increasing the chances of the employees to stay in the company for the employer. Along with this, the employer also gets tax benefits for his employees.
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Sanchit Malik, Co-Founder and CEO, Pazcare says, “You no longer need to talk to insurance providers. Now you can talk to your HR on any matter regarding claim and policy. All you need to do is inform your HR team during hospitalization and they will ensure that you get all the facilities based on your policy.” Apart from this, there are many benefits of group health insurance policy, about which we have told you here.
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- Lower Cost – Group health insurance policies are generally cheaper than individual retail plans. This is because the premium amount is shared among the employees.
- Family Coverage – Malik explains, “In normal case all the members of the family have to buy the policy individually, but under a group health insurance policy, one can include whomever one wants with him/her.”
- Can claim easily – During hospitalization, instead of going to health insurance providers, you can simply inform your HR team. The HR team will ensure that your claim is processed.
- Detailed Coverage Information- There is no need to put much effort to understand the legal documents related to it. “Group health insurance partners will explain the inclusion and exclusion in simple terms and help in being more prepared for any treatment,” says Malik.
- You can also avail flexible benefits – With a group insurance policy, you can add additional benefits whenever you want. You can either increase the sum insured or cover additional members. Even if you leave your company, this policy will remain with you. According to Malik of Pazcare, it is important to get the parents involved and covered with this policy.
(Article: Priyadarshini Majhi)