Features & benefits offered under the group mediclaim policy for employees
The rising number of chronic diseases and infectious diseases has developed health concerns. Securing yourself with health insurance plans has become crucial for every individual. There are different types of health insurance policies in the market with unique features.
We all know that health is wealth, and to offer health and wealth together, many employers provide group insurance policies for employees to secure their health. According to an ASSOCHAM survey, 43 percent of Indian employees suffer from depression, with at least 23% suffering from obesity. In addition, high blood pressure, slip discs, diabetes, and arthritis are frequent ailments.
According to Harvard Business Review, the new employees state that 69% of employees are unaware of their companies' healthcare policies [1]. Therefore, every employee must gain clarity and understand these policies to get a clear picture of their health coverage.
This article will help you understand the features and benefits offered under the group mediclaim policy. But, first, let's explore and check the benefits and features covered under the health insurance policy.
Before sliding on features and benefits, let's understand group mediclaim policy.
What is group mediclaim policy?
Employers' group mediclaim policy for employees provides several benefits to the policyholder. Most employers deduct a certain amount from the CTC. The amount deducted is the premium cost of the health plan provided by the employer. Besides, some companies offer free group insurance policies for the employees as the plans are purchased in bulk and at a cheaper rate.
Well speaking about the benefits of group mediclaim insurance policy, there are several benefits covered by the group health insurance policy; Coverage of the family members of the employees is the extended support offered by this policy.
Features covered under group mediclaim policy
Certain group health insurance policies may offer coverage for boarding costs other than anesthetist, surgeon, and consultation charges.
- Post and pre-existing charges such as ambulance charges, Nursing charges, operation theater charges are also covered under group mediclaim policy.
- While some may cover expenses for anesthesia, oxygen, diagnostic materials, along dialysis expenses.
- Some of the group health insurance plans offer coverage for maternity-related expenses.
- A cashless hospitalization facility wherein the insurance company directly settles off the medical bill with the hospital.
- Domiciliary hospitalization is another benefit covered by the group health insurance plan where the insured individual is considered hospitalized, even when at home. It is a home-based treatment for a disease, illness, or injury.
- Certain group mediclaim policies provide coverage for pre-existing diseases that include pre-existing health issues ranging from high blood pressure, thyroid, the usual suspects like diabetes, asthma, etc.
- Costs of a pacemaker, organ transplant, dialysis, chemotherapy, radiotherapy, and more are also covered.
*Standard T&C Apply
Benefits of group health insurance plan
Family protection:
Group health insurance plans cover your family members too. These plans protect the dependent family members on the employees by providing them financial help whenever they require it. If not, the family members must purchase another family health insurance plan and pay the premium.
Easy to Claim:
Instead of running around health insurance companies, you need to connect with your employer with relevant bills in group health insurance plans for claiming the insurance.
As most employees purchase health insurance, the organization ensures that the claim request gets immediate approval so that employees can benefit from cashless treatment through which the insurance company directly settles the medical bill without having the policyholder pay from their pocket.
Low Cost:
One of the significant benefits of group health insurance plans is that they provide coverage to senior citizens and parents at reasonable costs. The group mediclaim policies are always economical compared to family or individual health insurance plans. In addition, sharing premium amounts among the employees reduces the burden of premium payments on the individual. Also, a specific group health insurance plan offers financial backup to the employees. After an employee retires, resigns, or leaves the company after three to five years, they get gratuity.
No Waiting Period:
Well, some health insurance companies provide waiting periods for pre-existing diseases. A group, health insurance policy, starts covering pre-existing diseases from the day an employee joins the organization. In this way, there is no waiting period for any pre-existing disease. *Standard T&C Apply
Which company offers the best group mediclaim policy?
Well, many insurance companies provide the best features and benefits. Opting for the best one with an add-on can offer you more advantages. Bajaj Allianz General Insurance group mediclaim policy has many features and helps to keep employees secure. It provides quick settlement so that you don't have to wait for a longer duration. Also, you can easily purchase and renew your policy online and opt for a health insurance plan quickly. Other features include quality medical care, cashless facility, and more. In addition, the Health CDC (claim by direct settlement) feature provides immediate settling of health insurance claims up to INR 20,000 by using mobile apps. *Standard T&C Apply
Conclusion:
A group health insurance policy provides copious benefits for both employees and employers. Bajaj Allianz General Insurance helps to reduce the financial burden of employees and covers medical and treatment expenses. The Bajaj Allianz General Insurance group health insurance plan makes your employees feel secure and safe. So start your journey today!
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.
Source:
[1] https://hbr.org/2016/10/why-people-do-and-dont-participate-in-wellness-programs
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