Group Health Insurance
An insurance coverage that is offered by the employer to the employee for the period he is associated with the organization. Such schemes have become the most important component offered along with Benefit Packages. It is vital to buy a Health Insurance cover as it helps to protect against any unforeseen event or hospitalization due to accident or illness/ disease.
Eligibility for Health Insurance Plans:
- Employer – Employee Groups
Non Employer– Employee Group
- Professional Groups
- Non – Banking Financial Institutions
- Microfinance Institution
Key Features offered under a Group Health Insurance Policy are:
- Expenses which are covered under the Hospitalization expenses are - Boarding Expenses, surgeon, anesthetist and consultant fees; charges for anesthesia,
oxygenand diagnostic materials in addition to X-rays and dialysis costs among others.
- Cashless facility available under the scheme.
- Certain procedures like chemotherapy, radiotherapy, hernia, piles, cataract, etc will be covered under the policy.
- Certain policies offer maternity benefit without any waiting period.
- Pre-Existing diseases are covered without any waiting period.
- Certain Policy
offerDomiciliary Expenses under the scheme
- Reimbursement of ambulance expenses
arecovered under the policy.
Advantages of buying a Group Health Insurance:
- Employees are assured of financial assistance in case of unfortunate hospitalization, accident, etc.
- Employees can add
therefamily members by paying additionalpremium and enjoy tax exemption under section 80D of income tax act.
- Can be customized to meet niche needs of the employees enrolled