- Insurance

Which is the Best Group Insurance Policy for Employees?

A group mediclaim policy is a type of insurance coverage that covers a group of individuals under the same plan. Companies, non-profit organizations, and even societies can opt for it. The organization has to pay the premium to cover the group policy for all members. The policy covers the members of the organization and the people dependent on them.

Both employers and employees benefit from group insurance. It provides assistance when your employee has a health crisis. The employer also avails benefits as the health insurance acts as an incentive for employees to retain their positions. Additionally, group insurance plans help you claim certain tax benefits.

Let us look at the various factors that you as an employer should look at while deciding on a group insurance policy for your organization.

Group Mediclaim Policy

Comprehensive Plan

While opting for group insurance, you should always read carefully through the various features it covers. Some basic features for a group health insurance plan are given below:

  1. Consultation:

The policy should enable your employees to avail unlimited virtual and physical consultations with doctors of all types.

  1. Health checkups:

The policy should provide free health checkups once a year to all policyholders. If needed, these checkups should be made available at home.

  1. Mental health benefits:

Today, we all understand the importance of mental wellbeing. It is no longer enough if you are physically fit. You should be able to strike a balance between your mental and physical health to perform your best. The policy you choose should cover mental health benefits as well.

  1. Dental benefits:

Dental problems could pose problems as well. The group policy should cover dental health, including basic services such as consultation, cleaning, and scaling.

Medical Benefits

After you are sure that the policy you have opted for offers a good comprehensive plan, you must check for specific medical benefits. It should be able to cover a wide range of health problems, accidental coverage, and other hospitalization benefits. You could check for the following:

  1. Medical expenses:

The group policy should be able to cover most medical expenses that you can incur when hospitalized, without restrictions such as minimum room rent, pharmacy bills, surgeon costs, and more.

  1. Ambulance services:

One should have easy access to ambulance services after availing the policy. Your policy should be open to cover the charges for the same whenever needed.

  1. Pre- and post-operative charges:

There are many pre- and post-procedures when you undergo a surgery. The policy you choose should be able to cover these expenses to a satisfactory level.

Cover Dependents

It is a basic requirement that all group mediclaim policies should cover. However, as the employer, it would be your responsibility to check whether your chosen policy offers this benefit. While obtaining coverage for dependents, ensure that it starts from the very next day of the premium payment.

Group insurance policies should provide a blanket cover for all pre-existing health problems of the dependents, i.e., employees may want the insurance to cover their family members. The dependents can be their parents, spouses, or children. Additionally, if the basic coverage of dependents isn’t sufficient for a few of your employees, the policy should be able to enable them to add on extra features at reasonable prices.

Cashless Claims

As an employer, the lesser you handle cash, the better for you. Ensure that your policy offers a 100% cashless service. None of your employees should be asked to pay at times when facing a health crisis. This will help you build a loyal relationship with your employees in the long run.

Save Time

When choosing a policy, you must make sure that the insurance company will take care of all requirements under the plan. They should be able to provide any requirement that might come up for your employees. They must be the one-stop solution for all health-related crises in your organization. This will save you a lot of time, and you can invest it in multiple other places to aid the growth and development of your business. A few ways to ensure that your policy can save you time are presented here:

  1. Single point of contact:

Ensure that the policy provides your organization with a single point of contact for all your insurance-related queries. This will save a lot of time which would otherwise be used in redirecting between person to person within the insurance company.

  1. On-call support:

During an emergency, the policy should be able to provide an immediate support line that the person in need can contact. This will help minimize the damage and help recover costs faster.

  1. Hospitalization support:

While in a hospital, there would be many things that come up. The insurance company should be able to help you in their partner hospitals from the time one goes into the hospital, till the time they are recovered.

We hope that these tips point you in the right direction when opting for the best group insurance policy for your employees. There are multiple companies offering group mediclaim policies. Instead of looking at the brand name, look at the features that each company provides to make the best choice for your organization

About Charlotte D. Thomas

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