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Employee Health Insurance Coverage
- DetailsWritten by PolicyBazaar -
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Modified 15 November 2016
Health is a priority to an individual. Without good health, we are not able to perform our duties related to our job and personal life. Moreover, keeping good health helps us in achieving our goals and objectives. But as we know life is uncertain, we are not sure of the contingencies that may arise. Also, health care costs including medical treatments have risen sharply during past few years. In such scenario, health insurance helps us immensely. Health insurance policy makes sure that we do not suffer from any financial burden that may arise due to any health emergency.
Employee Health Insurance Benefits
Employee health insurance is a benefit extended by an individual’s employer to their employees. It does not only cover the person working for the employer but also covers rest of family members under the policy. When a company provides health insurance assistances, they pay full or part premiums for the health insurance policy. Employers are not required to provide health insurance coverage to employees. Health insurance is typically a matter of agreement between an employer and employees. Typically, health insurance coverage is an employee prosperity and value plan established or maintained by an employer or by an employee organization like union, or both, that provides health care for members and their dependents through insurance coverage or settlement.
Employee health insurance benefits can be utilized by an individual during needs. Further, employee health insurance policies enable you to medical checkups after fixed intervals as they have tie ups with hospitals and labs. Employee health insurance provides same coverage as an individual will buy for themselves. Employee health insurance provides hospitalization coverage including pre and post hospitalization expenses. Some employee health insurance policies can provide reimbursements of fees of specialists and other medical practitioners for after treatment checkups. Some employee health insurance policies also provide for hospital cash allowance which is provided to meet daily expenses like travel etc. It also provides cover for domiciliary treatment. Even, preexisting diseases are also covered by employee health insurance policies which usually have a waiting period depending upon policy to policy.
Employee health insurance is not only beneficial to employees but to their employers as well. It enables employers retain its asset which is generally its employees. This is the primary reason for employers investing in health insurance for their employees. Further, an employee feel engaged towards the organization which enhances productivity.
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