Corporate Group Health Insurance - An Intro

As the name implies, Corporate Group Health Insurance is wherein the employer provides healthcare coverage to the employees (which in many cases extends to the employees' families as well). For working professionals, a group health insurance plan is one of the most lucrative perks offered by employers. More often than not, these plans are uniform, offering the same features and benefits to all the members of the group being insured.

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Whom do you want to insure?

  • Employee, spouse & kids

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Corporate Health Plans are Usually of Two Types:

  • Contributory plans wherein the group member/employee needs to pay a part of the premium along with the employer.
  • Non-contributory plans wherein the employer pays the premium in full.

The biggest benefit of group health insurance is that it is way cheaper than individual health plans (per person). Hence, it is beneficial for those people who cannot afford decent health cover by themselves. The insured group member/employee should never hesitate to question the features and exclusions of the plan being offered by your employer. 

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The reason why it comes at a subsidized rate is simple to understand, the risk taken by the insurer is spread over a number of people rather than a single person, thus thinning it out. One might wonder how the premium set on corporate group health insurance plans is. Here’s how it works. The insurance company assesses the risk factor on each member enlisted in the plan. Subsequent to that, the risk factor is blended and the premium is fixed on the averaged risk factor of the group.

Most of the organizations today provide group health insurance coverage to their employees but it is always better to get an individual health insurance plan even if your employer has got you insured. The reason being, that corporate health plans are valid only as long as you are an employee of the company. So obviously your group health plan will cease to cover you when you leave your current organization. The new organization that you join might give you a lower health cover that would not suffice your healthcare needs or it might not offer a health cover at all. Hence, it is imperative to get an individual health insurance plan as well.

Written By: PolicyBazaar - Updated: 21 November 2023

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Policybazaar for Business - Group Health Insurance - Customer Reviews
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4.4/5
Based on 189 reviews
4.4
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Based on 189 reviews
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3.8 April 09, 2023
Mansi
Excellent Support
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4.3 April 01, 2023
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Necessary Investment
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4.3 March 24, 2023
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3.8 March 16, 2023
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When it came to selcting the right Group Health Insurance, Policybazaar offered an impressive range of options from reputable insurers. I appreciated the comprehensive details avalable for each policy which helped me to take the better decisions. Thankyou.
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4.3 March 15, 2023
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Increases Clients Expectations
I recently had the pleasure of securing a Group Health Insurance policy throug PolicyBazaar and I must say the Entire process exceeded my expectations! From start to finish, their service werw great. Thankyou.
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Great Experience
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4.3 February 17, 2023
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Excellent Purchase
It was a excellent purchase at PolicyBazaaar. Thankyou team.
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4.3 February 04, 2023
Satya
Prompt Services
Policybazaar's efficient claims process was impressive. In case of any medical emergencies, my employees were able to get their claims settled swiftly, allowing them to focus on their health and recovery without worrying about financial aspects.Thankyou
Chennai
4.3 January 22, 2023
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Budget Friendly Purchase
Thankyou PolicyBazaar for providing such a great plan at affordable premium rates. It was a budget-freindly purchase.
Delhi
4.3 January 09, 2023
Abhash
Multiple Range Of Benefits
I purchased Group health Insurance which offered me plans with affordable rates Thankyou PB.
Pune