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 Group Health Insurance Schemes for Employees – What to look for?

The world is fighting against Covid-19 pandemic, and as a result health insurance has become mandatory for every individual. The government has also stated that the group health insurance for employees is mandatory for every employee working in an organisation or a business institution. This was announced as a part of post covid operating guidelines.

Hence it is observed that when a Group health insurance is purchased for the members of the organization, a sense of safety is created among  employees boosting their confidence at work helping them stay more inclined towards the goals of the company. 

Here are a few other reasons why purchase of Group health insurance schemes might be a good idea

Treatment of Covid 19

From the time Covid 19 India pandemic struck, one common thing that was seen throughout any type of business was pay cuts. This created a downfall in the economy of the country  while also affecting the finances of employees. 

Hence creating a financial security to bear with the medical expenses that may arise due to the deadly coronavirus. This can make them medically and financially secure. Providing Group Health Insurance for employees with inclusion of Corona Kavach policy can help them during these most difficult times.

Enhancing employee retention

Jobs that provide a sense of security are always valued by individuals. When a company provides health insurance to its employees and their families, it not only provides them with financial security but also creates an overall contentment about the fact that the company cares about its employees. Hence boosting employee retention and loyalty.

Offering protection from severe illness

In our country more than 75% percent of the population is getting affected by lifestyle diseases. The high-pressure jobs, lack of physical activity are some of the main causes. Further it is also noted that more than 61% of illness hospitalization and death are also caused by lifestyle diseases. 

So a health insurance can safeguard employees from these diseases at the earliest. Group health insurance can come handy during diagnosis and treatment of these diseases.

Boosting employee motivation and mental health

A happy employee creates a happy workspace which creates successful companies. Humans are motivated when they are provided with security and happiness. This will increase their working efficiency and boost employee wellness

When employees are subjected to stress due to their financial status and  personal problems, these perks can offer them mental peace to a larger extent. Thus, increasing the productivity in their workplace. 

What to look out for in a Group health insurance?

As we saw a few reasons why Group Health Insurance for employees can be beneficial, here are a few things to look out for in a Group health insurance.

Health Insurance for family members

A Group health insurance policy can include the health insurance for family members and the employee. This can provide a wider coverage and the employees can be  stress free regarding health and financial security of their family.

Health Insurance Claim Settlement Process

The health insurance claim settlement process must be easy and simple. The turnaround time for the claim  should be swift and hassle free considering the legacy of the employee. It must be a small process –  like showing the health insurance card must be enough to initiate the claim.

Pre-existing disease covered from day 1

A Group Health Insurance can cover a pre-existing disease in an employee from the day he/she joins the organization. As a result there is a zero waiting day period created in covering any pre-existing disease.

Maternity Health Insurance

Providing maternity health insurance for the employees or their spouses can be the best advantages offered to young employees. The policy that can cover both c-section and normal deliveries are an added benefit.

Why Group health Insurance

A group health insurance for employees can create a sense of security in employees regarding their health and the health of their family. This could improve employee motivation and boost mental well being during tough times like Covid-19. 

At PazCare we provide employee benefits and group health insurance to your employees. Get in touch for more info.

 

Also read

  1. Why buy group health insurance for your employees?
  2. Why employers should go for group health insurance?
  3. Choose the right group health insurance plan for your remote team?

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