Tips to Choose a Right Group Health Insurance Company for Your Organisation

Amid the pandemic, health has become the priority of every individual living on this planet. Being an employer, it is becomes your responsibility to protect your employees from heavy unforeseen hospital expenses. Choosing the right group health insurance for the employees can be a task for an employer. Let us give you some tips on how to choose the right group health insurance for your employees.

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Whom do you want to insure?

  • Employee, spouse & kids

  • Employee only

How to Choose Group Health Insurance for Employees?

After the outbreak of Covid-19, employees have understood the value of group health insurance and how it can hejp them take the unforeseen medical financial burden off of their shoulders. However, for employers, it can be a little tricky sometimes. Being an employer we would like to give you some tips on choosing the right group health insurance policy for your organization.

1. Demographics of Employees

Some factors like the average age of your employees, the overall health of the group, the number of employees working in the organisation, etc. determine the cost of a group health insurance.

Therefore, it is crucial to consider the demographics of your employees while choosing a group health insurance plan.

2. High Sum Insured

It is crucial to consider the maximum sum insured with the inflation in medical expenses while selecting the group health insurance policy. Therefore, having an inadequate health care sum insured would be of no use. You must consider the high sum insured while deciding employee benefit plan.

3. COVID-19 Coverage

Financially securing your employees by including COVID-19 coverage in the plan will help them in taking care of the expenses that could arise from the coronavirus.

4. Maximum Network Hospitals

Choose a group health insurance scheme that covers maximum reputed network hospitals for cashless hospitalisation. All these hospitals ensure that your employees get a hassle-free claim settlement process, enhanced hospitalisation process, and professional medical care.

5. Hassle-free Claim Settlement

A group health insurance does not only mean a high sum insured. A perfect group insurance policy also features a smooth claim settlement process. Before finalizing the insurance company for your organisation, check their after-sales service, reviews & feedback from the customers, social media handles, responsive website, and mobile application. All these things will help you in deciding which company provides the most hassle-free settlement process.

6. Flexibility in Plans

Find a plan that offers flexible extensive coverage. A group health insurance plan should not be rigid and employees should have permission to modify it according to their needs. There must be an option to buy any add-on cover if needed or add their family members to the plan by paying a higher premium in their existing plan.

7. No Room Rent Limits

Pick a cover with no room rent limits because a slight change in this can lead to a lower claim settlement amount. Also, if the policyholder is not satisfied if he/she has to stay in a room below his/her expectation even after paying the premium amount.

8. No Waiting Period

Every health insurance policy has a waiting period. Make sure that the policy you are offering to your employees does not have a waiting period for the PED (pre-existing diseases) to raise a claim. If the group health insurance policy has a waiting period, then your employees will have to wait for a certain period before they can raise a claim.

9. Complimentary Services

A group health insurance policy should not only have insurance coverage. Choose a plan for your organisation that offers other complimentary services such as free medical consultation with experts, bonus discounts for maintaining an active lifestyle, or discounts on medicine or lab tests.

Standard Group Health Insurance Policy Coverage

Below we have mentioned important coverage under a standard group health insurance policy-

  • Pre and post-hospitalisation expenses.
  • Covering in-patient hospitalisation expenses.
  • Out-patient treatment expenses.
  • Day-care expenses.
  • AYUSH treatment for a specific limit.
  • Facility to include spouse or kids in the plan.
  • Cashless hospitalisation benefits at maximum network hospitals.
  • Covering maternity expenses and new-born expenses.
  • Emergency ambulance expenses.

Complimentary Benefits

There is a wide range of other benefits that can be offered in health insurance to the employee. Below we have mentioned others or complimentary coverage given under a standard group health insurance policy-

  • Free online teleconsultations with the doctors.
  • Discount on tablets or booking lab tests with the network hospitals.
  • Bonus or rewards for maintaining an active lifestyle.
  • Offering services to consult with mental wellness experts, mental health coaches, or nutritionists.
  • Enrolling employees in wellness programs through the policy.
  • A standard policy should also offer to track daily activities, book appointments, and talk to their doctors through the insurer's mobile application.
  • A seamless claim settlement process through a mobile application or the website of the insurer.
 
Conclusion

Before finalising any group health insurance policy for your employees, make sure to go through the policy's features, benefits, coverage, exclusions, applicable terms & conditions, disclaimer, available add-ons, complimentary benefits, and claim settlement process. Also, as an employer, you must know the expectations of your employees. This will give you an insight into employees’ satisfaction.

Written By: PolicyBazaar - Updated: 30 March 2022

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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
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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