Healthcare Benefits Only Available in a Group Health Insurance Policy

Group health insurance policy provides medical coverage to the employees of an organization. It can be an ideal substitute for medical reimbursement. Let us discuss the healthcare benefits that are only available in Group Health Insurance Policy.

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  • Employee, spouse & kids

  • Employee only

Group Health Insurance Benefits

  1. Cost

    Group Health Insurance (GHI) is less expensive than family floater insurance. Sometimes, the plan may also extend and includes the family members of the employees. Therefore, it is also an excellent substitute for family floater insurance.

  2. Number of People

    The group health insurance benefits increase in case of a high number of employees. The employees receive higher value-added benefits under the group health insurance. It covers the existing disease along with hospitalization expenses.

  3. Flexibility

    A group health insurance scheme is a flexible plan. A policyholder, if deemed fit, may avail of additional benefits by paying extra charges. Further, he may also extend the provision of the plan by adding family members.

  4. Easy to Claim

    An employee is not mandated to visit the health insurance companies in order to claim the benefits under the group insurance scheme. Instead, he may directly contact his employer or the administration of the organisation.

    Due to the large number of people covered under employer employee insurance, the employer and management of an organisation ensure that the claim of the employees is approved by the insurance companies.

    In addition, the companies provide an easement to the employees by making cashless treatment.

  5. Maternity Coverage under GHI

    A group health insurance policyholder may modify the coverage of the plan according to his convenience. For example, he may add maternity coverage to the existing plan. The insured under this plan may avail of maternity coverage from the first day.

    Therefore, the insured is not likely to wait for nine months like other insurance plans. However, it is at the discretion of the management of a company to add maternity coverage for the families of employees. Nevertheless, the employees may modify the coverage at their own cost.

  6. No Waiting Period

    The insured or policyholder is not required to wait for a specified time under group health insurance. The group insurance scheme does not include a waiting period. The employee may claim the insurance from the first day.

  7. Cashless Claims

    The health insurance company ties up with several hospitals to provide cashless treatment to the insured. Therefore, the insured at the time of medical emergency may visit the hospital specified under the insurance contract and avail of the cashless treatment.

    However, the name of the hospital must be mentioned under the insurance policy. Due to the tie-up, the hospital and insurer settle the bill smoothly. Hence, the insured does not require running around the hospital in order to avail of the cashless treatment.

    Instead, he may show the insurance policy to the hospital in order to get the treatment done. This is how group health insurance benefits the employees.

  8. Great Substitution for Medical Reimbursement

    Under medical reimbursement, the employee is mandated to pay the bill from his own pocket during a medical emergency. However, under group health insurance, the employee is only required to carry his insurance card in order to avail of the treatment.

    Further, medical reimbursement is a demerit for an organisation since a company is required to set up a committee that shall be responsible for checking if the claim is valid.

    In addition, it also needed to bear administration costs incurred by the company. Hence, group health insurance benefits an organisation in several ways.

Conclusion

One may find several group health insurance benefits compared to other medical insurance policies. The employer provides it at the cost of the company. Group health insurance benefits the employer along with the employees of an organisation.

Written By: PolicyBazaar - Updated: 16 August 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
out of 5
Based on 189 reviews
38 users
136 users
15 users
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3.8 April 09, 2023
Mansi
Excellent Support
It was easy to buy insurance from PolicyBazaar website and customer support was also amazing to clear all the doubts.Thankyou. Highly worth it.
Dehradun
4.3 April 01, 2023
Mahesh
Necessary Investment
It is a good and necessary investment. Thanks PB.
Lucknow
4.3 March 24, 2023
Surya
Provides Satisfactory Results
I purchased Group health insurance at policybazaar recently and i am so much satisfied with the plan. The application process was smooth and efficient, making the typically tedious task of getting insurance surprisingly hassle-free.Thanks PB.
Bareilly
3.8 March 16, 2023
Naveen
Helpful In Making Decisions
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.
Delhi
4.3 March 15, 2023
Rajesh
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.
Delhi
3.8 March 02, 2023
Ravi
Great Experience
I got great deals on PolicyBazaar website. Highly recommend.
Pune
4.3 February 17, 2023
Diljeet
Excellent Purchase
It was a excellent purchase at PolicyBazaaar. Thankyou team.
Coimbatore
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
Abhishek
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