The Ultimate Guide to Group Health Insurance

The Ultimate Guide to Group Health Insurance

The employer of a company is not just responsible for supervising their
employees. They must also make sure that their employees are happy to help the
company grow better. With a group health insurance at hand, the employer
allows the employees to make the most of cashless treatments when in need.
So, they do not have to go through any financial crunch in terms of health. As a
result, they feel grateful towards their employer and work more efficiently to
improve its success. This also helps improve the relationship between the
employees and their employer.

Group Health Insurance is a versatile policy. It promises to cover a group of
employees and enable them to take care of their medical expenses without any
hindrance. Generally, these are more affordable than individual health insurance
plans. Learn more about it as you read.

What Is A Group Health Insurance Policy?

A group Mediclaim policy is an agreement between the employer and the
insurance provider where the employer’s employees receive medical cover during
emergencies. It generally consists of their entire employee base to help improve
the chances of receiving added benefits. Certain employers deduct the CTC of the
employees to some amount to pay for the policy. However, some organizations
do this for free. Since these plans are bulky, they come at cost-effective rates.

Many companies also offer family floater plans for employees. But this is not
mandatory. If you already have an insurance policy at hand, you don’t need
another one. So, you can avoid it as per your convenience.

What Are the Key Features of Group Health Insurance?

1. The policy is provided for one year, after which it needs renewal.
2. The sum insured is decided upon with the mutual decision of the employer
and the insurance company. The cover will depend on age, lifestyle, gender,
and other crucial factors.
3. Employees can enjoy the group policy until they are working as an
employee in that company. When they leave, the coverage will terminate.
4. A minimum number of employees are significant to get the cover. But there
is no limitation of how many maximum employees can get a cover.
5. The employer can buy the group insurance policy. Other registered groups
may also be entitled to do so.
6. A single master policy is issued to the employer while the employees are
the insured members.
7. If there is any claim, the employer and the insurance company will settle it
together. But the cover for other employees is never hampered.
8. The employer has the right to pay premiums on behalf of the employees.
The employees can also do it if they wish for it for themselves.

What Are the Benefits of Group Health Insurance?

Affordable choice

Generally, individual health insurance plans require more premiums than group
health insurance policies. So, if employers opt for group health insurance plans,
they may get cover for lesser premiums.

Easy to Claim

The claim process with an employer is far easier than any other way. All you must
do is give a claim request to your employer and present them with relevant bills.
Since many employees are insured, you will also receive your insurance in no

Family Protection

Many employers provide family insurance policies for each employee under the
group insurance policy. This helps your entire family to receive insurance without
any worries at all. So, this also enables your dependents to get medical aid
without paying any money at all.

Employees Feel Valued

With this plan at hand, employees feel happy and valued that they care for them
so much. As a result, they also offer great productivity to the company for its
steady growth and success.

More people, more plan benefits

The more employees get insured in a group insurance policy; the more plan
benefits they can all receive together. They provide added services like pre-
existing illness, hospitalization expenses and more.

What Are the Important Aspects of Your Group Insurance Policy?


Group insurance policies provide a host of cover benefits, mainly pre and post
hospitalization expenses, ambulance costs and daycare fees. These insurance
companies may also offer riders that you can add according to your preference
and improve your cover benefits. But these come at an additional premium, so
you must discuss them first before you opt for them. Consult your insurance
provider to understand this correctly. When buying the policy, make sure you choose as many options as possible to make your insurance policy plan effective
and convenient for you. This way, you can receive all-around protection without
any hassles.

Sum Insured

When you wish to buy the group insurance policy, the sum insured will play a
crucial role. So, the insurance company will allow you to select a sum insured for
yourself under a maximum limit. You can choose the sum insured under a specific
amount. Thus, it would help if you opted for the highest sum insured to receive
ample cover in times of crisis. Since medical inflation is rising each day, it is
significant for you to ensure that you have sufficient cover for your future. This
will help you to opt for medical treatments without paying any amount from your


When you opt for insurance from the best health insurance company, it is time to
look into the premiums. Since the premium is something, you need to pay
regularly, you have to avail them smartly. When you buy the policy, the insurance
company will decide upon the premium according to your comfort. There are a
host of premiums to choose from. SO, make sure you opt for the most convenient
option. Compare the premiums to different companies and see whether you will
be able to afford them. Then you can move ahead and pick a plan that provides
comprehensive covers and requires an affordable premium.

Cover sub-limits

Some cover benefits do have sub-limits in the group health insurance policy
scheme. If you can avoid sub-limit, it is best. Since these sub-limits defeat the
entire idea of cover benefits, it may not be a wise thing to opt for. So, always
scout for plans that do not have any sub-limit at all. If you cannot eliminate each
sub-limit, make sure that they can cover your costs sufficiently. If you do not
know how you can eliminate sub-limits in your plan, contact your insurance
provider. They will help you out right away.

Waiting Period

Since there are no waiting periods, group health insurance plans are helpful. But
you may notice that some plans may include waiting periods for covers like pre-
existing illness and other specific treatments. Maternity expenses may even have
a waiting period in many cases. So, it is significant for you to choose a plan that
has no waiting period or the lowest waiting period among all. Plans that have a
limited waiting period or none offer comprehensive cover to your employees. So,
they are naturally a better and wiser option.

Cover Exclusions and Hidden Clauses

Generally, group health insurance policies come with exclusion. This means that
the plan will not cover the incurred medical expenses. That is why when you
receive the cover list, make sure you go all out to read it carefully and thoroughly.
This will help you to avoid any issues in the long run. Since these clauses limit your
cover and the benefits you can receive from them, it is wise to observe them


Generally, group health insurance policies come with a host of discounts that can
tempt you to get insured right away. Companies that provide the most discounts
and deals are always a wise option. So, you can make the most of them in your

A Network of Cashless Hospitals

An insurance provider will give you a list of network hospitals to provide
compensation for your medical expenses. If you visit those networked hospitals,
you can receive cashless treatment without asking for it. So, you do not have to
worry about your financial crunch. The policy providers will do it for you.

Should You Buy A Group Health Insurance Policy?

Yes. Buying a group health insurance plan is always a wise choice because they
are highly affordable and provide several benefits at your comfort. They may also

help your employers receive family floater plans to safeguard their entire family
in times of medical crisis. However, there are a few essential points of this plan
that you might want to consider before you buy it straight up.

1. Not valid for retired employees.
2. Everyone is required to pay the same amount of premiums.
3. When an employee leaves the organization, it can be a potential loss for
4. There is a cap on certain cover features.
5. The high claim amount may override the renewal premium fees.

The Bottom Line

Group health insurance policies are generally safe, flexible, and cost-effective. So,
if you have an organization and are looking to get your employees insured, do not
keep waiting. We promise; it is going to come to your rescue.



Please enter your comment!
Please enter your name here