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
• Banks
• 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, oxygen and 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 offer Domiciliary Expenses under the scheme
• Reimbursement of ambulance expenses are covered 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 there family members by paying additional premium and enjoy tax exemption under section 80D of income tax act.
• Can be customized to meet niche needs of the employees enrolled