Group Health Insurance

Health Insurance
  • Claim up to Rs. 55,000 deduction under section 80D*
  • 10,000+ hospitals for cashless treatment
  • Insurers offer plans with no limit on room rent

Overview of Group Health Insurance:

A group or corporate health insurance policy is purchased by an employer for eligible employees of a company. One of the key employee benefit packages provided by employers, a group health insurance plan, in some cases, may also provide cover to family members of employees.

Key Features:

  • Some policies may cover boarding expenses apart from surgeon, anesthetist and consultant fees; charges for anesthesia, oxygen and diagnostic materials in addition to X-rays and dialysis costs among others.
  • Offer cashless facility and direct settlement of bills with the hospital.
  • Offer to cover pre and post-hospitalisation charges for a specific period.
  • Some policies may offer maternity benefits.
  • Less than 24 hours hospitalisation for certain procedures such as chemotherapy, eye surgery and tonsillectomy among others.
  • Extended cover for certain critical ailments above hospitalisation benefits.
  • Some policies may provide cover for pre-existing diseases after payment of extra premium.
  • Some policies may cover domiciliary expenses.
  • Some of the optional benefits include waiver of waiting period, first year exclusions besides reimbursement of ambulance charges among others.
Group Health Insurance

Top Companies offering Corporate Health Insurance Policies:

      • Star Health - MediClassic Insurance Policy:

The key features of the Star Health and Allied Insurance MediClassic Insurance Policy are:

      • The policy covers hospitalization for a 24 hours minimum, which will include room charges, boarding charges, medicine and drugs costs, surgeon fees, and any special fees for surgeons, ambulance, consultation, etc. will be covered under the policy.
      • Non-Allopathic Treatments are also covered in the policy for a specified limit.
      • The policy will cover pre and post hospitalization expenses, for pre hospitalization that have occurred 30 days prior to hospitalization and for a specified limit of time for post hospitalization.
      • 101 day-care procedures covered.
      • HDFC ERGO - Group Health Insurance Policy:

The key features of the HDFC ERGO Group Health Insurance Policy are:

      • The policy covers hospitalization caused by sickness or accidents. And will include room charges, boarding charges, medicine and drugs costs including costs for specialists like anaesthetist, surgeons, specialist fees, and, consultation, etc. will be covered under the policy
      • All related expenses for treatments will also be covered such as blood, diagnostic materials and x-ray oxygen, operation theatre charges, anaesthesia, surgical appliances, dialysis, and even chemotherapy.
      • The HDFC Ergo-Group Health Insurance policy will cover pre and post hospitalization expenses.
      • Day care and domiciliary hospitalization expenses are also covered.
      • Future Generali- Group Health Insurance:

The key features of the Future Generali- Group Health Insurance are:

      • The policy covers everything from the time the insured is hospitalized to the time of discharge. All charges including room charges, boarding charges, medicine and drugs costs including costs for specialists like anaesthetist, surgeons, specialist fees, and, consultation, etc. will be covered under the policy
      • Even the treatments related expenses like blood, operation theatre charges, diagnostic, anaesthesia, surgical appliances, materials and x-ray oxygen, dialysis, and even chemotherapy will be covered within the policy.
      • The Future Generali- Group Health Insurance will completely cashless for the employee and doesn’t cause the employee any hassle of documentation and bills.
      • ICICI Lombard - Group Health Insurance Policy:

The key features of the ICICI Lombard Group Health Insurance Policy are:

    • The plan provided for ICICI Lombard-Group Health Insurance Policy can be tailored made to suit your requirements.
    • The plan will cover medical expenses that will be charged during hospitalization for minimum of 24 Hrs.
    • The plan also provides a coverage for a 30 Days Pre Hospitalisation and 60 Days Post Hospitalisation expenses.
    • The plan also cover 9 major critical Illnesses which will be optional.
    • The plan will provide a cashless facility at all their partner hospitals.

Understanding Group Health Insurance Policy:

  1. Why do companies offer health insurance?

    It not only helps retain but also boost the performance of employees. Also, it goes a long way in creating a loyal workforce. In some cases, employees may accept better health benefits instead of higher remuneration. It helps reduce absenteeism in the company and improves morale of employees.

  2. What are the other benefits companies enjoy for offering employees health insurance?

    Companies get tax breaks for offering health insurance policies. In some cases, a health insurance policy is part of an employer’s statutory obligations.

  3. How do employer health insurance plans fare in terms of pricing?

    Low premiums may get more weightage but it could, in some cases, lead to exclusion of several important features.

  4. How about co-payment clauses in the policy?

    No co-pay plans are ideal for customers but insurance companies resort to co-payments to cut their costs. For instance, about 20 per cent of group health insurance policies offered by New India Assurance include a co-payment clause.

  5. Do group or corporate health insurance policies cover a wide range of diseases?

    Your policy may provide cover for a wide range of ailments in addition to accidents which need ‘in-patient’ hospitalization. Besides, you can opt for a critical illness cover as well.

Advantages of Employee Health Insurance Policies:

  • It provides an additional health cover for employees who already have an family or individual health insurance policy
  • Employees, by and large, are not asked to go for medical check-ups and usually get policy cover from day one.
  • Employees, in some cases, can avail of certain maternity benefit.
  • A group health insurance plan is cheaper (usually 30%) than individual health plans. Premiums in the former are lower in relation to the sum assured compared to individual health insurance policies.
  • A group health insurance policy is, by and large, easily available to employees of a company.
  • In many cases, pre-existing medical conditions of the employees are covered by group insurance policies.
  • In most cases, employees are not denied health coverage based on their age or past medical history.

Who should buy this plan?

Group or corporate insurance is provided by employers to employees in an organisation as opposed to an individual health insurance policy. The insured employees pool into the policy and can, therefore, claim health coverage as and when the need arises.

Exclusions:

  • A group health insurance policy may offer limited coverage owing to sub-limits. An employee,therefore, may not be fully covered.
  • A master policy offered by companies covers all employees in the organization under the same umbrella and therefore lacks customization.
  • The policy is valid only for a certain period during which an employee is working in a company.
  • Companies may reduce the health insurance cover at their discretion.
  • An employee and his family are not covered in case of any interval between jobs.
  • The policy may become invalid if a company does not pay the required premium or if an insurer backs out of the contract with the company.
  • Many companies may not provide health cover to the employee’s parents.

Example:

Sunita Sehgal (name changed) a Bangalore-based HR executive and a to-be mother is worried about the medical expenses of hospitalization and other ancillary costs related to pregnancy. She is, however, covered under an ‘Employee First’ corporate health insurance scheme which provides private single rooms in hospitals besides other maternity benefits for newborns including vaccination coverage for her baby. What’s more, it also covers check-ups for her parents and in-laws as well.

You may also be interested about:

GST rate of 18% applicable for all financial services effective July 1, 2017.

Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

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Group Health Insurance Reviews

Page 1 of 50 1 2 3 4 5
  • review Health Insurance
    "Good"
    0.5 3.0/5 "Satisfactory"
    I have taken a health insurance in IFFCO TOKIO GENERAL INSURANCE on 3 years before. I am paying premium in the yearly package. It covers my whole family for this insurance. They have tied up with many hospitals and cashless treatment also applicable.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 14, 2019
  • Star Health
    Star Health Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    Currently my health policy is in Star Health because the claim process was very good for cash less. They are doing instant help whenever I approach them. The customer service is also good. So far, I haven't claimed anything. The medical coverage is 5L and the premium is around 20 to 25K for 3members.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 11, 2019
  • National Insurance Health Insurance
    "Better Policy"
    0.5 3.0/5 "Satisfactory"
    I am having a health insurance from National. Actually the policy has provided by my office. They gave me a policy only for me and i included my son also. They gave me a coverage value is not very much because it was 2.5 lakhs hence i am planning to go for other policy for my entire family members.
    Was this review helpful? 0
    , new delhi
    Reviewed on Oct 11, 2019
  • Star Health Health Insurance
    "Good Insurance Policy"
    0.5 5.0/5 "Blown Away!"
    From my working place, they gave me a health insurance policy from Star Company. I got the coverage value of Rs. 5 lakhs. From my salary, they are deducting the premium amount of Rs. 8000. I have not applied for any claim till now. Most of the hospitals has been covered on this policy.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Oct 10, 2019
  • United India Health Insurance
    "Better"
    0.5 5.0/5 "Blown Away!"
    I got a health insurance in United India Insurance which was given my company so, I am not sure about the premium. Its been 10 years and till now, there is no claim experience. I did not interact with the customer care. I got the insurance paper and e-cards. The medical coverage is 2L.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • Bajaj Allianz Health Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Since the premium amount is less and the benefits are high hence i have chosen the health insurance from Bajaj Finsev. I have been paying the premium amount of Rs. 14500 for the coverage value of Rs. 5 lakhs. Nearly 6000 hospitals has been covered all over India. My entire family has been covered in this policy. I do not have any claim experience as of now.
    Was this review helpful? 0
    , thane
    Reviewed on Oct 09, 2019
  • Star Health Health Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I hold a health insurance from Star Health and it was referred by friend. The claim process was very simple and I just done a call to the customer care, to check how I can utilize this policy for my daughter treatment. They were responsible and paid more attention which was useful for me. I got the amount without doing any work from my side and I felt, they are good compared to others. The premium is 12K yearly, am paying through cheque. Its been 5years and e-cards are sent on time.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Oct 09, 2019
  • Royal Sundaram Health Insurance
    "Really Superb policy"
    0.5 5.0/5 "Blown Away!"
    For each person, they have provided a Rs. 2 lakhs. From my husband, they have given this policy. Last 3 months back, my husband admitted in a hospitals. In that single penny, i have not taken it from my pocket. It was cashless treatment policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 08, 2019
  • Star Health Health Insurance
    "Good Health Insurance"
    0.5 3.0/5 "Satisfactory"
    Actually star insurance has included many hospitals and most of the health insurance office is not available in our area and only star office was available. They pay for per day charges in our regular hospitals and claim get sanctioned. If i go for their hospitals list, it will be a cashless facility. Their claim process is convenient. They gave me a 100% claim.
    Was this review helpful? 0
    , ahmednagar
    Reviewed on Oct 08, 2019
  • ManipalCigna Health Insurance
    "Good"
    0.5 3.5/5 "Pretty good"
    I have a health insurance policy with Cigna TTK because of medical coverage, no TPA but I know they have TPA and the second thing they have no room cap during hospitalization. They are charing 8K to 9K per family and it includes 2people. One time, I done a claim and got the amount.
    Was this review helpful? 0
    , kolkata
    Reviewed on Oct 08, 2019
  • Oriental Insurance Health Insurance
    "Good benefit to the customer"
    0.5 4.0/5 "Great!"
    When i purchased my credit card, they have offered me a health insurance from Oriental. They are providing a cashless facility. The day i have taken the policy, from that day the policy gets covered. Only myself covered on this policy. I pay the premium amount of Rs. 5000 and the coverage amount Rs. 3 lakhs. I make the premium through credit card.
    Was this review helpful? 0
    , nalbari
    Reviewed on Oct 06, 2019
  • review Health Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIBERTY GENERAL INSURANCE on 2 years before. The policy is for yearly basis renewable and I use to pay for 18 thousands. I am paying premium in the yearly package.They have tied up with many hospitals and cashless treatment also applicable.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 06, 2019
  • Max Bupa Health Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    My health insurance was selected from Health Insurance because they have given me a proper support which helps me a lot. I have paid the premium amount of Rs. 1000 per year and only myself covered on this card. They have provided me a coverage amount of Rs. 8 lakhs. I used to renew the policy through online.
    Was this review helpful? 0
    , new delhi
    Reviewed on Oct 06, 2019
  • review Health Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    From my employer side, they have provided me a health insurance policy from Kotak. They are deducting the premium amount from my salary. The premium amount of Rs. 300 for every month. They have given me a coverage amount of Rs. 5 lakhs. My whole family has been covered in this policy but i have not approached them for any claim till now.
    Was this review helpful? 0
    , tiruchirapalli
    Reviewed on Oct 06, 2019
  • Bajaj Allianz Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance in BAJAJ ALLIANZ GENERAL INSURANCE on 2 years before. The policy is based on yearly basis. I am paying premium in 2 installments. While getting a policy my agent has given an information about the policy details. For the payment auto debit from my account. It covers up to myself.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 05, 2019
  • Bajaj Allianz Health Insurance
    "Average Policy"
    0.5 3.0/5 "Satisfactory"
    8 years before, i had taken the health insurance from Bajaj Allianz. Total premium amount is Rs. 5000. Only once i paid the money after that i had no money to pay the premium hence my policy got lapsed. On that time, they used to proper reminder regarding the policy renewal. I had no claim experience till now.
    Was this review helpful? 0
    , bellary
    Reviewed on Oct 05, 2019
  • Star Health Health Insurance
    "Yet to explore the policy"
    0.5 3.0/5 "Satisfactory"
    From my company, they have provided me a health insurance from star company. The premium amount is paid by the company hence I'm not sure about the details. They have given me a coverage amount of Rs. 20 lakhs which covers only for myself. Till now i have not made any claim from the policy.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 05, 2019
  • Bajaj Allianz Health Insurance
    "Easy to get the health insurance policy"
    0.5 5.0/5 "Blown Away!"
    From Bajaj Allianz best policies are available for the health insurance. My entire family has been covered on this policy but i do not have any claim experience. I bought the policy 1.5 years back but they haven't provide any claim bonus.
    Was this review helpful? 0
    , balangir
    Reviewed on Oct 04, 2019
  • Max Bupa Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    From Max Bupa I have group health medi claim of certain amount its covers myself only. So far there is no claim but still this policy is good for the medical emergency which got tied up with more hospitals for cash less treatment. On yearly basis get renewable.
    Was this review helpful? 0
    , jaipur
    Reviewed on Oct 03, 2019
  • Religare Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a health insurance with RELIGARE HEALTH on 2 years before. The policy is yearly basis renewable. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. They have tied up with many hospitals. The total amount of 3 lakhs is applicable for this insurance.
    Was this review helpful? 0
    , new delhi
    Reviewed on Oct 01, 2019
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