A health insurance plan that offers financial coverage to a group of people is termed as a group health insurance plan. The group can be members of a society or employees of a firm. Most group health insurance plans are offered by employers as a benefit to the employees and the plan is designed either by the employer or the health insurance provider. These plans are mostly uniform and offer the same benefits to all the group members.
Group health insurance plans are advantageous for both the employer and the employee. Employers use group health plans as a vehicle to motivate employees by covering for their medical expenses which otherwise can cause a financial burden on the employee. Since the policy is bought for a large number of people, employers can get a discount on the premiums and they can also enjoy decreased tax liabilities. Group health insurance plans are also used to attract potential employees and retain the existing ones.
On the employee front, group health plans can be really beneficial as the rising medical costs can leave the employee in financial distress when he/she is struck with a medical calamity. Employees also do not have to go through the hassle of undergoing any medical health checkup for enrollment. There is also no waiting period and most illnesses are offered coverage from day one.
To cater to the healthcare needs of members in a group or firms, Aditya Birla Health has launched 2 group insurance products called as Group Activ Health and Group Activ Secure. Both these products provide a comprehensive coverage for hospitalisation expenses arising out of an accident, critical illness and other ailments. Before we get into the individual features of both these plans, let us first see the features of group health insurance plans.
This offering by Aditya Birla offers group hospitalisation cover for medical treatments in network hospitals. The Group Activ Health plan can be completely customised by the employer or the insurance company to meet the health needs of the group members. Some of the other benefits offered under the plan are given below:
The Group Activ Secure plan is meant to provide coverage for accidental death, critical illness and daily hospital cash allowance. The plan offers the below-mentioned features:
Both the group insurance products offered by Aditya Birla Health - Group Activ Health and Group Activ Secure are highly beneficial for anyone who is looking for a comprehensive coverage for its group members.
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