Why buy Group health insurance for your employees?

Group health insurance for your employees

The world is fighting against Covid-19 pandemic, and as a result Health Insurance has become compulsory for every individual.  The Government has also stated that health insurance  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 group health policy purchase for the employees might be a good idea.

Create financial protection during Covid-19 pandemic

From the time Covid-19 pandemic struck the world, 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 finances of employees. Hence creating a financial security to bear with the medical expenses that may arise due to the deadly corona virus. This can make them medically and financially secure.

Enhancing employee retention

Jobs that provide a sense of security are always valued by individuals. When a company provides Group 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 their employees as well. Hence this boosts 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 group 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

Just like Happy wife, happy life, a happy employee makes the organisation a happy workspace which creates successful companies. Humans are motivated when they are provided with security and happiness. This will increase their working efficiency. This further boosts their mental well-being. 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 in a Group health insurance for employees ?

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

Extended coverage for the family members

A Group health insurance policy can include the employee as well as the dependent family members like parents, spouses and children. This can provide a wider coverage and the employee can be  stress free regarding health and financial security.

Easy claim process

The claim process in the insurance policy must be easy and simple. The turnaround time for the claim  should be swift and   hassle  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.

Covering pre-existing diseases

A group health insurance policy must cover diseases that are pre-existing 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 illness

Maternity coverage

Providing maternity coverage 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.

Buying health insurance for your employees

A group health insurance policy purchase 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 the tough times like Covid-19.Looking for employee benefits and group health insurance for your employees? Talk to us now.