Group Health Insurance
Group Health (Floater) Insurance, as the name suggests, offers coverage to a group of people. It generally covers employees of a company or members. A group health insurance policy plays a vital role in ensuring employees’ well-being by offering financial protection against medical expenses.
With this policy, employees can receive financial security during medical uncertainties, and employers can receive tax benefits on the paid premium. A Group Health Insurance Plan can also provide coverage for an employee’s family members (parents, spouse, dependent children).
Meet Our Group Health USP’s
Comprehensive Coverage
Extensive medical coverage for employees and their families.
Employee Retention
Attractive benefit for employees, promoting job satisfaction and loyalty.
Tax Benefits
Employer can claim tax deductions for premium payments.
Convenience
Easy administration and hassle-free claims processing.
Customizable
Plans can be tailored to meet specific needs of the group.
Maternity and Newborn Coverage
We offer cover with maternity benefits.
Pre-existing Condition Coverage
Many plans cover pre-existing conditions without a waiting period.
Network Discounts
Access to a network of healthcare providers at discounted rates.
Advance Cash Benefit
Advance cash for preplanned treatment.
Employee Wellness
Encourages a healthy workforce, reducing absenteeism and increasing productivity.
Health Check Up
Regular medical exams to monitor your health.
Who Should Buy Group Health Insurance?
Businesses with approximately 20 to 50 employees and limited resources, may not have the financial flexibility to provide extensive health benefits to their employees. Group Health (Floater) Insurance for small businesses allows them to offer cost-effective health solutions to their employees.
Business with around 250 employees also benefit significantly from corporate health insurance. Have more resources than small businesses, but still face similar challenges when providing competitive benefitsto employees.Group Health (Floater) Insurance for businesses allows them to offer cost-effective health solutions to their employees.
Businesses with more than 250 employees can also buy corporate health insurance, to benefits their employees. Healthy workforce is imperative for an organisation’s growth and sustainability.Group Health (Floater) Insurance helps in achieving the same.
Difference Between Group Health Insurance and Individual Health Plans
| Aspect | Group Health Insurance | Individual Health Plan |
|---|---|---|
| Meaning | Covers a Group of People | Covers an Individual |
| Who is Insured? | Employees and their Family | Only the Individual |
| Purchaser and Premium Payment | Employers | Individual |
| Control over Plan | Limited Control | Full Control |
| Coverage for Pre-existing Diseases | From One Day | Usually After a few Month and Years |
| No Claims Bonus | Not Available | Available |
| Coverage Duration | As Long As You Are Employed with the Company | Need to be Renewed Yearly |
Comparative Overview: Health Insurance Plans
O = Others*
| Features | Definitions | Total Insurance Solutions | Others | T | O |
|---|---|---|---|---|---|
| Accidental Hospitalization | When you're admitted to the hospital following an accident or injury. | ✓ | ✓ | ||
| Day Care Procedures | Brief medical procedures that do not necessitate overnight hospital stays. | ✓ | ✓ | ||
| Pre - Hospitalization Expenses | Expenses incurred prior to hospital admission. | ✓ | ✓ | ||
| Post - Hospitalization Expenses | Medical expenses post-hospital discharge. | ✓ | ✓ | ||
| Road Ambulance | Emergency ambulance transportation on roadways. | ✓ | ✓ | ||
| Second Medical Opinion | Consulting another doctor for a second opinion. | ✓ | ✗ | ||
| Sum Insured Refill | Renewing your health insurance coverage limit. | ✓ | ✗ | ||
| Wellness Benefit Program | Programs advocating for overall health and well-being. | ✓ | ✓ | ||
| Domiciliary Hospitalization | Receiving hospital-level care at home. | ✓ | ✗ | ||
| Health Check Up | Routine medical check-ups to monitor your health. | ✓ | ✓ | ||
| Critical Illness | Serious health conditions necessitating specialized care. | ✓ | ✗ | ||
| Infertility Treatment | Medical procedures to assist couples in conceiving. | ✓ | ✗ | ||
| Cumulative Bonus | Bonus for consecutive claim-free years. | ✓ | ✗ | ||
| Network Physical Fitness Centers | Fitness centers or gyms included in your insurance coverage. | ✗ | ✓ | ||
| Additional Sickness Benefit | Additional coverage for particular illnesses. | ✓ | ✗ | ||
| Advance Cash Benefit | Upfront payment for medical expenses prior to insurance approval. | ✓ | ✗ | ||
| Maternity Benefit | Insurance coverage for pregnancy-related expenses, including prenatal care and childbirth. | ✓ | ✓ | ||
| Organ Donor | Assistance for medical costs incurred by organ donors during transplantation. | ✓ | ✗ | ||
| Dental Treatment | Insurance coverage for dental treatments and oral health care. | ✓ | ✗ |