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Top Mistakes to Avoid when Choosing a Group Medical Policy

Posted On : 27 February 2024, 2 Months Ago. Blog Total Read 74

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A group health insurance plan covers a group of people who work under the same organisation. This is a type of insurance that is provided by the employer to the employees as a benefit of working for the company. The premium for the plan is paid by the employer, and benefits can be extended to the family members of the employee. This blog will talk about features, benefits, and eligibility for buying group health policies, as well as the common mistakes committed while buying them.

Features of Group Medical Policy

To learn more about the health policy, you must have a look at the features which provide you with a brief understanding.

Cashless Process: If the employer covers the employee under group insurance, then a cashless facility can be availed at the network hospital. This allows the employee to get the treatment without paying the medical bills in cash.
Pre and Post-hospitalisation: Medical expenses incurred before and after hospitalisation are also covered under the plan. The expenses are generally covered up to 30-60 days of pre-post hospitalisation, which may vary with plans and insurers.
Added Health Benefits: Benefits ranging from OPD consultation and routine health check-ups to mental wellness support are considered added health benefits. These benefits are included under the plan to take better care of the employees.

Benefits of Corporate Mediclaim Policy

If a person is planning to get a job or currently working with an organisation, they might be covered under a medical insurance plan. It has various perks for the employees, which are listed below:

Smooth and Easy Claims: The tedious claim settlement process is executed by the employer. A person, as an employee, just has to submit the hospital bills in case of reimbursement or can directly get the cashless claim benefit at a network hospital.
Family Coverage: Group medical policy covers employees along with their families. They can include their parents and dependents, which depends on the plan, the employer selects. Employees can avail of the benefits at zero cost.
Preventive Healthcare: Wellness initiatives such as educating employees on various aspects of health to provide doctor consultation or discounts on medicines, health check-ups, gym membership, etc., are some common benefits included in most plans.

Companies Eligible for Group Health Insurance

If you are wondering about the relationship between the size of the company and corporate insurance eligibility, then you need not worry. There are a variety of plans to meet the need of all types of businesses. Many insurance companies now offer plans to companies with even one or more employees. These plans vary with the size of the business.

Mistakes to Avoid when Choosing Group Medical Policy

It’s the employer who decides what plan to choose, and there is no role of the employee in decision-making. Here are a few mistakes you must avoid while selecting the best group health insurance policy for your organisation:

Limited Coverage: The policy must cover the maximum medical needs of the employees without compromising the quality of treatment. This will also help to maintain the goodwill of the company.
Poor Customer Service: Once you have decided to buy group insurance for your employees, the next step is to select the insurer and the plan. In this step, you must analyse various service providers and read reviews before making the final decision.
Limited Geographical Coverage: As an employer, you must check the number of hospitals which are part of the insurer’s network across the country.
Unreasonable Premium: The premium paid for the health plan must be worth the coverage it provides. You must compare and check various plans which provide higher coverage with affordable premiums.
Excessive Exclusions: You must go through the policy document carefully to check the exclusions. Important benefits and coverage should not be under exclusions as those services are not provided by the insurer.

Bottom Line

With the culture of multinational companies, employee benefits have now become the priority of all organisations. The policy provides benefits to both parties included in the agreement. By providing a group medical policy for employees and their families, the company attains higher goodwill and better working culture. It is of great importance to provide such benefits for an employer to retain employees.

As the best workforce deserves the best group health insurance policy, you must consider the plans offered by Niva Bupa. Niva Bupa has a good reputation in the market and has plans which do not burn a hole in your pocket. You must check our website today to make the best use of your funds.

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Secure your health with comprehensive insurance plans from Nivabupa

Tell us a bit about you

Whom are you buying for ?

Individual

Husband & Wife

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Name Enter valid name

Date of Birth Enter Valid DOB

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OTP sent Resend OTP Enter Valid Mobile Number

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I authorize Niva Bupa to call me. This will override your existing registry in DNCR. I want to get my quote and policy details on WhatsApp.

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