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 offers room, boarding, or nursing expenses at 2% of the sum insured subject to a maximum of Rs.5,000.
      • Emergency ambulance charges up to a sum of Rs.750 per hospitalisation and overall limit of Rs.1,500 per policy period.
      • Covers in-patient hospitalisation expenses for a minimum period of 24 hours.
      • Covers costs incurred through surgeon, anesthetist, medical practitioner, consultants.
      • 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

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  • Bajaj Allianz Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I received the call from BAJAJ executive for health insurance, as i have re-payed all my loan correctly. The executive was convincing, So I have taken a health insurance from Bajaj Allianz. I pay the monthly EMI of Rs.783 which get auto debited from my salary account. It covers upto 5 Lakhs. There is no claim experience.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 27, 2020
  • Star Health
    Star Health Health Insurance
    "Good health insurance provider"
    0.5 3.5/5 "Pretty good"
    For past 2 years, i have been renewing the health insurance from Star company. Comparing to other health insurance provider, their service is good and they have a more branches all over India. They have provided me a coverage value of Rs. 3 lakhs and this policy covers for my entire family. They haven't provide any no claim bonus when i enquired about the same, they said they will increase the coverage value after 3 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 25, 2020
  • HDFC Ergo Health Insurance
    "Good Insurance plan"
    0.5 5.0/5 "Blown Away!"
    My health insurance was taken from HDFC Ergo because the premium was less and customer care service is good. This policy covers for my entire family. I have visited their branch when i took the policy to get all the details. I have not applied the claim till now. I'm satisfied with the coverage value.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 25, 2020
  • ICICI Lombard Health Insurance
    "Yet to explore the policy"
    0.5 5.0/5 "Blown Away!"
    Since I'm working with ICICI company, they have provided me a health insurance from ICICI Lombard and i have been renewing the policy for last 4 years without any claim experience. Since company is paying the premium, i have no idea about the no claim bonus. My family members also included on this policy. They gave me a coverage value of Rs. 5 lakhs.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 25, 2020
  • Star Health Health Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    This year i had done a claim for the operation of my wife. When i have submitted the paper for post hospitalization expenses till now i didn't get the claim but i got the cashless treatment facility in the hospital. From Star, i got the health insurance because the agent came to my place and convinced me to take the policy.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jan 25, 2020
  • HDFC Ergo Health Insurance
    "Faster and secure policy"
    0.5 5.0/5 "Blown Away!"
    I'm holding the health insurance from HDFC Ergo. I'm having 1 year girl baby because of her, i bought the health insurance. When i asked with the people who use health insurance, they have recommended me the same. Cashless treatment facility is very good and they processed the claim very fast. They gave me a coverage value of Rs. 3 lakhs for the duration of 1 year.
    Was this review helpful? 1
    , kochi
    Reviewed on Jan 22, 2020
  • HDFC Ergo Health Insurance
    "Good Policy"
    0.5 3.5/5 "Pretty good"
    1 month before only i took my health insurance policy from HDFC Ergo. For the safety purpose of my family, i bought the health insurance since i have a savings account and credit card with HDFC i have chosen the same company for my health insurance as well. I paid the premium amount of Rs. 4000 which covers only for myself. They given me a coverage value of Rs. 5 lakhs. In my area, many hospital got covered on this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 22, 2020
  • SBI General Health Insurance
    "Costly but good helath insurance"
    0.5 4.0/5 "Great!"
    My employer has provided me a health insurance from SBI General Insurance. This insurance is available in every well known hospital hence its easy to do the claim hence overall my claim experience is good. They have processed my claim by 45 days. Its not a cashless claim since its because of my choice. They have provided me a claim up to 80%.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jan 21, 2020
  • Max Bupa Health Insurance
    "Fraud Company"
    0.5 0.5/5 "Unacceptable"
    Please please please!!!! do never take any policy from this company. Horrible service. It rejected my claim stating a fake disease and then it explains nothing. There is absolutely no transparency. I kept on re-applying with doctor's justification and they kept on rejecting without considering anything. Then they dont let you talk to the doctors also. They just do not resolve anything.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jan 21, 2020
  • Chola Ms Health Insurance
    "Good "
    0.5 3.0/5 "Satisfactory"
    My employer has given me a health insurance policy from CHOLAMANDALAM GENERAL INSURANCE. The sum assured amount of 2L. It covers 4 members of myself, spouse and my two children. Their service is good. There is list of hospitals are tied up with them. No claim experience.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 20, 2020
  • Star Health Health Insurance
    "Good service"
    0.5 4.5/5 "Excellent!"
    My cousin has told that the claim experience from STAR HEALTH was good and he got about 97% amount. I have taken insurance on 2 years before. Yearly use to pay of 12K. Before I was paying premium amount of 10K now they have increased depends on the age. It covers whole family. They have tied up with many hospitals. So far I have not done any claim.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 20, 2020
  • New India Health Insurance
    "Need to improve in claiming process"
    0.5 3.0/5 "Satisfactory"
    I have taken a health insurance policy from New India and it is a company provided. This is a family floater policy and the coverage value was Rs. 2,00,000. Annual premium i am paying Rs 8,000. I can avail a tax benefit under sec 80D. All critical illness covered in this medical policy. I went for a claim it is a cash less and they covered all network hospitals and the claim process was average.
    Was this review helpful? 0
    , alleppey
    Reviewed on Jan 20, 2020
  • Royal Sundaram Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    I have taken a health insurance in ROYAL SUNDARAM and the policy coverage value of Rs. 5L. I am paying premium in the yearly package. While getting a policy they given an information about the policy details. They have tied up with all network hospitals and also they cover all critical illness and day care treatment. This is a Tax Benefit policy covers under 80D.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jan 20, 2020
  • Religare Health Insurance
    "Good "
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance from RELIGARE HEALTH. I got this offer when I had applied a credit card with RBL bank. Yearly use to pay of 7K around. They have tied up with particular hospitals. The agent has provided terms and condition. There is no option of cashless treatment. It covers my whole family. No claim experience yet.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 18, 2020
  • Religare Health Insurance
    "Good Insurance policy"
    0.5 5.0/5 "Blown Away!"
    From my company, they have provided me a health insurance from Religare and its a group insurance policy but my family consists of 4 members included in this policy with the coverage value of Rs. 5 lakhs. I don't have any claim experience. I have not gone through the hospital list but they have provided me a health insurance card.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 17, 2020
  • Star Health Health Insurance
    "Good Insurer"
    0.5 5.0/5 "Blown Away!"
    For my personal use, I had taken a health insurance from STAR HEALTH on 2.5 years back. Yearly I use to pay amount of 10,100 rupees with GST. They have tied up with many hospitals. Sum assured of 10L. It covers myself and spouse. It is useful for Tax benefit.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 16, 2020
  • United India Health Insurance
    "Emergency policy"
    0.5 5.0/5 "Blown Away!"
    From my company side, they have offered me a health insurance from United health care. I have done a claim twice and the experience was good. My family consist of 3 members included in this policy. They have approved my claim within 3 days. On their website, i had applied my claim. They gave me a claim upto 90%. I would say health insurance policy is very much helpful when a person doesn't have money by just providing the insurance card number and employee id.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 16, 2020
  • United India Health Insurance
    "Nice and genuine company which provides claim on time"
    0.5 4.0/5 "Great!"
    Its because of the agent recommendation, i have taken the health insurance from United India. I have been paying the premium amount of Rs. 18000 per year. My full family has covered in this policy. I have a claim experience too and they are providing the cashless facility on hospital even reimbursement was carried out on time.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 16, 2020
  • Oriental Insurance Health Insurance
    "Yet to experience the policy"
    0.5 4.0/5 "Great!"
    From my office, they have provided me a health insurance from Oriental but i never utilized the policy till now. My entire family has been covered on this policy. I got the coverage value of Rs. 4 lakhs and the network of hospital list is good. I never get any situation to contact their customer care service.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 16, 2020
  • ICICI Lombard Health Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    From my company, they have provided me a health insurance from ICICI Lombard. I do have a claim experience and I'm satisfied with it because it was a cashless treatment. My entire family has been covered in this policy. I'm not aware of the coverage amount and i have not called their customer care service till now.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 16, 2020
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