Tips for Choosing Health Insurance for Your Small Business

For small businesses, the decision to offer a group health insurance policy for your employees can be a huge task. A comprehensive health insurance plan can help attract and retain talent, but choosing the right reasonably priced plan can be hard. In the article below, check out tips to choose health insurance for small businesses that help you maintain the balancing act.

Read more
Tailored health plans, dedicated expertise - the perfect match for your organization's well-being
Customized plans

Affordable prices

24X7 Support

Dedicated claims manager

Total Care

All round wellness benefits

Fast-track your search with instant quotes from prominent insurers
₹1 Lakh cover starting at
₹110/month/employee+
No medical test required
Zero waiting period
Paperless claims
secure-icon We don't spam
Get Updates on WhatsApp

Whom do you want to insure?

  • Employee, spouse & kids

  • Employee only

Tip #1: Compare different group health insurance policies

Researching and comparing various policies available in the market is the first step towards choosing the right health insurance. You as a policyholder must understand the basic structure of the plan available, its coverage, premium, and other features.

Tip #2: Buy adequate coverage

Ensure that the coverage opted for is adequate. Low or insufficient sum insured may not be helpful to your employees. Also, consider higher coverage if you plan to offer group insurance to dependents of your employees. Since a single sum insured applies to the employee and his dependents (if included), higher coverage is always recommended.

Tip #3: Ask your employees about their needs

Your employees are the prime beneficiaries; thus, it is essential to consider their needs and requirements. Employees these days look for proactive, need-based, and comprehensive plans. Try to incorporate their requirements while choosing the plan. For instance, if your workforce is mainly between the age group of 25-45 years, a maternity benefit add-on would be highly valuable.

Tip #4: Consider covering their dependents

Medical expenses can burn a hole in your employees’ pockets. These medical emergencies may not solely be for the employee but also for his dependent family. It is thus a good move to consider covering their spouses, children, or even dependent parents in a group health insurance policy.

Tip #5: Learn about the inclusions and exclusions

Exclusions and inclusions form the crux of any policy. It is always recommended to learn about them and make your employees aware to avoid any unpleasant surprises at the time of claim.

Tip #6: Check the list of networks of hospitals

The larger the network of hospitals offered in a policy, the better.. Since your employees may be situated in different parts of the country, or city, checking the hospital network list is highly suggested.

Tip #7: Check the sub-limits and other terms and conditions

Sub-limits on room rent, ambulance charges, consultation fees etc., are crucial as they reduce the overall claim amount for your employee. Also, learning and informing your employees about the fine print or the terms and conditions is very important.

Tip #8: Cost matters

With hosts of features and add-ons available, it is easy to get carried away to provide your employees with the best. However, choosing the best group insurance scheme is as important as choosing the right one. Select a policy that has an appropriate cost-benefit ratio.

Conclusion

Buying health insurance from your employees is imperative. The significance of this cannot be emphasized enough. It will positively impact your employees, as they will feel valued and cared for, resulting in a growing business. The above tips to choose health insurance for small businesses can help you weigh all your options and take the right decision.

calcu-img

Group Health Insurance Premium Calculator

Who do you want to insure?

  • Employees
  • Employees & their family
icon

Minimum lives should be 7

  • 1 Lakh
  • 2 Lakh
  • 3 Lakh
  • 4 Lakh
  • 5 Lakh

Include maternity coverage

Premium starts from

(Excluding GST)

Let's find the right plan for you

Speak to our experts to get the right plan for your company's needs

icon Expert advice made easy icon
  • Date
  • Time

When do you want a call back?

  • Today
  • Tomorrow
  • 27 Jul
  • 28 Jul
  • 29 Jul
  • 30 Jul
  • 31 Jul

What will be the suitable time?

  • 11:00am - 12:00pm
  • 12:00pm - 01:00pm
  • 01:00pm - 02:00pm
  • 02:00pm - 03:00pm
  • 03:00pm - 04:00pm
  • 04:00pm - 05:00pm
  • 05:00pm - 06:00pm

Tell us the number you want us to call on

Your privacy matters. We won't spam you

Call scheduled successfully!

Our experts will reach out to you on 4th June between 2:00 PM - 3:00 PM

Now help your friend get Business Insurance

Your referral is greatly appreciated!

Our team will reach out to your friend soon to help with their business insurance requirements.

Wait! Didn't find what you were looking for?

Our certified business insurance experts are just a call away.

icon Expert advice made easy icon
  • Date
  • Time

When do you want a call back?

  • Today
  • Tomorrow
  • 27 Jul
  • 28 Jul
  • 29 Jul
  • 30 Jul
  • 31 Jul

What will be the suitable time?

  • 11:00am - 12:00pm
  • 12:00pm - 01:00pm
  • 01:00pm - 02:00pm
  • 02:00pm - 03:00pm
  • 03:00pm - 04:00pm
  • 04:00pm - 05:00pm
  • 05:00pm - 06:00pm

Call scheduled successfully!

Our experts will reach out to you on 4th June between 2:00 PM - 3:00 PM

Call scheduled successfully

Thank you
Our experts will provide you assistance with your
insurance coverage. Be assured, all your questions
will be answered

Customizable plans from top insurers

starting @ ₹110/employee*

View Quotes
Group Health Insurance Articles
GIPSA stands for General Insurance Public Sector Association.It is a group of four General insurance companies...Read more
28 Apr 2022 by Policybazaar 16987 Views
A group medical insurance scheme offers many benefits in addition to providing financial support during medical...Read more
08 Feb 2023 by Policybazaar 8833 Views
Companies worldwide strive to attract top talent by offering competitive salaries and outstanding corporate...Read more
15 Sep 2023 by Policybazaar 2680 Views
GPA (Group Personal Accident) and GMC (Group Medical Coverage) are two popular types of insurance policies often...Read more
01 Jun 2023 by Policybazaar 8548 Views
Extended work hours or working on holidays and weekends have become common in workplaces. Compensatory leave for...Read more
18 Apr 2024 by Policybazaar 1144 Views
Investing in Group Health Insurance (GHI) is crucial for...Read more
07 Jun 2024 by Policybazaar 243 Views
Co-pay in group health insurance was Insurers introduced the...Read more
06 Jun 2024 by Policybazaar 253 Views
In today's workplace, companies must foster a culture of support...Read more
31 May 2024 by Policybazaar 291 Views
Extended work hours or working on holidays and weekends have...Read more
18 Apr 2024 by Policybazaar 1144 Views
In today's competitive job market, where top talent holds the...Read more
29 Mar 2024 by Policybazaar 407 Views
Policybazaar for Business - Group Health Insurance - Customer Reviews
View all
4.4/5
Based on 189 reviews
4.4
out of 5
Based on 189 reviews
38 users
136 users
15 users
0 users
0 users
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