GIPSA, PPN and Empanelment in Health Insurance - Explained
GIPSA, PPN in GIPSA, Points to remember before opting GIPSA services, hospitals, empanelment
February 20, 2023
Total estimated yearly premium
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₹ 5,000 per life
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Any office, school, building, hospital, warehouse, home, etc incomplete without construction. The construction industry is required in every phase of building something. We can rightly say that our day-to-day life revolves around construction, roads, highways, flyovers, etc. There is no doubt that this provides employment to people from all walks of life. There are about 1.15 Lac construction companies in India itself.
Employee division based on the number of employees in construction companies is as follows -
According to sources, the Indian construction industry amounts to over 40% of the total development investment in the last 50 years. A majority of the Indian rural population depends solely on the construction industry as the daily wage workers are engaged at construction sites, making bricks, pillars, buildings, etc.
Group health insurance is the easiest and most economical way of safeguarding the interests of your employees. You must invest in a group health insurance policy as it also improves your employer branding. With the competitive job market on the rise, it is essential for a company to make sure that their employees are well taken care of.
Buying a group health insurance policy is more affordable as the premium paid is reduced because the number of insurances increases. It will also reduce tax significantly as the amount paid towards insurance premiums is exempted from tax.
You can easily get tailor-made insurance policies just for your team according to their requirements.
Your employees will have a financial safety net and their stress will be reduced. They will feel more at peace knowing that any medical emergency can be tackled easily.
Unlike common retail plans, group health insurance policies do not require prior medical testing. The policy can start from day 1.
Like the construction industry, the insurance industry also has a lot of different options available for everyone. But there are some pointers to keep in mind while choosing and buying a group health insurance policy.
It is important to choose a policy on which you can easily add/delete employees. Some companies have external TPA which makes it a bit cumbersome to check policy details and addition or deletion of employees
Covid has taught us that remote work culture is the future. Your employees can live in any part of the country and face medical assistance. During these times a large network hospital chain is required to make sure adequate medical attention is being given to the patient.
Always check the claim settlement ratio before choosing an insurer as it provides a much clearer picture of the insurance company.
Ensure that sufficient add-on benefits are there if you need to include them in your insurance policy. Some common covers include maternity benefits. Dental surgery, eye operation, etc.
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