How to Add Your Parents to Your Company Health Insurance Plan?

Various organizations provide medical insurance policies to their employees in the form of group health insurance. Some corporate health insurance offers extended coverage and adds your parents to the company’s health plan. It is one of the best way to get your parents insured under group health insurance. The parents can be added to the existing health insurance plan at any time.

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Procedure to Add Parents to the Company Health Insurance

The procedure is as follows:

  • As an employee, you first need to contact HR in order to verify the terms and conditions of the corporate health insurance the company offer to the parents of the employee. In addition, it is essential to know if the organization includes parents along with the employee in corporate health insurance.
  • Then you need to check the premium amount you need to pay or check if the company itself pays the amount on behalf of employees. The premium for corporate health insurance for parents, however, depends on the age of the parents.
  • You can add your parents to company’s health plan anytime during the policy period.
  • If the organization adds your parents to company health plan between or after the policy's inception, the insurer will charge a pro rata premium for the remaining period.
  • Once the organization adds your parents to the company's health plan, your parents will be eligible to receive the health card, which can be utilized during the admission in hospital or claim of the insurance policy.

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Benefits to Add Your Parents to Company Health Insurance

Several benefits exist in group health insurance. One such benefit is that it also adds family members and offers policy coverage. Some companies offer coverage at an additional premium, while others take the onus to provide free health insurance to family members.

Listed below are some benefits to adding your parents to company health insurance:

  1. No check-up required

    Your parents are not required to undergo any pre-medical check-up process in order to get insured under corporate health insurance. They can obtain coverage for health insurance from day one post adding to the group health insurance.

  2. Low premium cost

    Compared to individual health insurance, the group health insurance plan costs less and provides comprehensive coverage to employees and their parents. As a result, employers and parents may get insurance coverage at an affordable price as opposed to individual coverage.

  3. No waiting period

    The insured under group health insurance does not require waiting for the claims. Moreover, the waiting period does not exist in group health insurance plans. The beneficiary is covered from day one under corporate health insurance.

  4. Coverage of pre-existing disease

    The parents can avail the coverage against pre-existing illnesses such as diabetes, heart ailment, etc. Moreover, they can claim the treatment under corporate health insurance.

Case Study

Justice D.Y. Chandrachud and Justice B.V. Nagarathna, on 22nd May 2015, passed an order to indemnify the insured in case of sudden sickness. In this order, the Supreme Court observed that if the policyholder suffers from a sudden ailment or illness, and if this provision is not explicitly excluded under the policy, the insurer must indemnify the insured against all expenses incurred therein.

Conclusion:

The group health insurance provides additional benefits to employees in order to add their parents under the group health insurance. Group health insurance is an excellent plan for employees and their parents to enjoy coverage. Further, it is affordable in comparison to individual health insurance. Hence, the employee must get added their parents to the group health insurance.

Written By: PolicyBazaar - Updated: 21 November 2023

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