When you search “how to buy a group health insurance for employees?” all Google will show you is a brief description about group health insurance, its benefits, etc., Nobody answers the “how” part like how to buy it, what is the process like, what are the steps to follow etc.
So if you are new to buying a group health insurance plan for your team or have a limited idea about the same, then this blog is exclusively curated for you.
Let us set the ball rolling.
Getting group health insurance - the process
The overall process of buying group health insurance (GHI) looks like
- Get in touch with Pazcare
- Communicate your requirements.
- Get competitive quotes
- Complete the payment
- Get onboarded
Let us deep-dive into each of the steps in this process.
1. Get in touch
Firstly to buy group health insurance you get in touch with us and submit a basic form with details like your name, company details, employee strength, etc.
This form gives us a rough idea of how many employees require the coverage and what will be the approximate cost for the group health insurance plan. We will then get on calls with you to help you get the best corporate mediclaim policy based on your requirements.
2. Communicating your requirements
The second most important thing to do is to communicate the requirements or the benefits you wish to add to the group health insurance policy.
Unlike any other individual and family health insurance plan, your group insurance policy is highly customizable. Here are some basics that you need to choose to buy a policy.
a. The members covered
- You can choose to have employees only plan (E), employees, spouse and children plan (ESC) and employees, spouse, children and parents or in-laws plan (ESCP).
- You can decide the type of plan to opt for, based on the budget allocated for the employee benefits plan.
b. The sum insured and room rent
- The sum insured starts from as low as Rs. 50,000 to Rs.15,00,000 or more.
- You can decide how much coverage you want to offer to your employees. There are multiple technicalities to take into account before choosing the coverage. Our insurance experts will help you with it by explaining the things you need to consider before choosing coverage.
- You can choose the ICU room and hospital room rent limit for the plan or else you can also opt for the no room rent capping option.
c. Other add-ons
- Other requirements would be to consider will be add-ons like maternity insurance, dental insurance, OPD coverage, and many more. You can choose the maximum coverage amount for each of these.
- Choose health and wellness packages for the employees and their dependents. It includes doctor consultations, health check-ups, personalized therapy sessions, wellness packages for women, etc.
- Like these, there are plenty of options that you can choose for your workforce. Make sure you choose which best fits your team.
3. Getting competitive quotes
So after communicating your requirements, the next step is to get the competitive quotes from different health insurance companies. After understanding your needs, we will reach out to all insurers and get you the quotes. Remember that the quotes you get are influenced by two parties - you and the insurer. From your side, the add-ons, dependents coverage, room rent, etc. will influence the quote. Factors like employee size, age, geography etc. will affect the quote from the insurer’s side.
In case you plan to buy the GHI policy from the insurance company directly say, Bajaj Allianz group health insurance, they will provide detailed information on coverage and the premium you need to pay. But at the end of the day, the options are restricted or limited to Bajaj Allianz insurer itself.
But here is why purchasing the GHI policy from Pazcare can be of great advantage.
- You get competitive quotes from top health insurance companies.
- You can take your time to compare and analyze the plan breakdown for different insurers.
- You can choose a plan which comes with benefits that are useful to your employees and also have a desirable premium.
- In the end, you can take the well informed final decision and we help you with the same.
4. Process your payment
After you choose the plan, the next step is to agree to the terms and conditions of the group health insurance policy and pay the premium for the policy. Once the payment is done, the GHI policy for you and the team is valid for a year.
5. The onboarding process
Once the payment is done, the onboarding process is done within 24 hours. However, your group insurance plan is active immediately after you pay the premium. During the onboarding process, we explain and provide all the resources you need to get started with a group health insurance policy with Pazcare.
At Pazcare, we provide the HRs or the admin with the employer dashboard. Here they can see what is included and not included in their plan, how many members are covered, options to delete or add new members, etc. The employees are provided with an employee app, where they can view their whole plan, access health insurance ID card, get the network hospital list, consult with doctors, etc.
How is your group health insurance experience better with Pazcare?
Your group health insurance experience is better with Pazcare for the following reasons.
With Pazcare, you can choose your plan from the quotes of different insurance companies. You can choose the one which better works for you and fits your budget. So your options are not restricted to a single insurance company.
If you are new to the process of purchasing group health insurance for the employees, then our team makes sure that you are well informed about your options. We explain to you the different benefits, the advantages and disadvantages of it, what type of plan will work best for your team, and in fact, guide you step by step through the process. We will also provide you with a single point of contact who will be your go-to person available at all times for your assistance.
The dashboard experience
We have made the insurance experience easy by providing an advanced tech-based dashboard for HRs/admins and an app for employees. All your tasks related to GHI can be easily managed yourself and you don’t need to depend on TPA for every small edit. The dashboard is aimed to provide all the details you need and make endorsements easy.
24X7 customer support
Complimentary wellness activities
Pazcare offers complimentary wellness activities for your team when you buy your GHI policy from us. These include health and wellness webinars, workshops, and many more. Moreover, you can purchase health and wellness packages along with the GHI policy for your team. They include unlimited doctor consultations, therapy sessions, health check-ups, women’s wellness packages, and a lot more at discounted prices.