• Group Health Insurance

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    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:

    Health Insurance Plans for Individuals
    Family Floater Health Insurance Policies
    Health Insurance Plans for Senior Citizens
    Critical Illness Insurance Policies
    Cashless Health Insurance Policies

    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.

    Group Health Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • ICICI Lombard Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a health insurance policy with ICICI lombard from last 2 years and it is a good insurance policy to use. My premium of this policy gets auto deducted from the salary account. My claim experience was not up to the mark. I have a coverage of Rs 1.5 lakhs for accident and Rs 1 lakh for health. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 23, 2018
    • ICICI Lombard Health Insurance
      "Got it with my Loan"
      0.5 4.0/5 "Great!"
      I have been paying Rs.4000 as an annual premium for this health insurance. They are offering me a coverage of Rs.1 Lakhs in it. I took it as an add on along with my Loan and felt the Insurance to be quite a good one to have. The overall experience with it has been good.
      Was this review helpful? 0
      , goa
      Reviewed on Feb 22, 2018
    • Oriental Insurance Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      Around 2 years ago , I have got the health insurance policy from the ORIENTAL INSURANCE. This policy covers 4 members in my family. This policy has the medical coverage amount up to 2 lakhs. The customer support service and the response is better with the ORIENTAL HEALTH INSURANCE POLICY.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 22, 2018
    • SBI General Health Insurance
      "Good policy to hold"
      0.5 3.0/5 "Satisfactory"
      I had my health insurance with SBI General Health Insurance. I had this health insurance 1.5 years ago but till now I do not had any claims so far with them and the coverage limit for this policy is 3 lakhs which covers me and my family members. Company paid half of the premium and I paid the remaining half.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 22, 2018
    • Royal Sundaram Health Insurance
      "Good Coverage"
      0.5 4.0/5 "Great!"
      I recently took a SBI credit card and along with it I got the additional optional option of taking this Insurance. I like the Insurance and decided to take 2 schemes from them. I have been paying Rs.6000 as an annual premium and the total coverage that I would be getting is Rs.6 Lakhs (i.e. 2 Rs.3 Lakhs coverages) for 4 people. I haven't received details about my second Insurance yet.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 22, 2018
    • National Insurance Health Insurance
      "Its good health coverage policy"
      0.5 5.0/5 "Blown Away!"
      National has good hospital facility, they are recommending high profile hospitals with cash less treatment. I make premium around Rs. 4500 per year. Its covers only for me. Medical sum assured Rs. 1.5 lakh, I hope they are providing pre existing disease as well.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 20, 2018
    • HDFC Ergo Health Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      My health insurance was offered by the company from HDFC Ergo. The policy coverage was around 3L for annually. They have a good networks of hospitalizations. The customer service was good. I got the insurance papers on time. It is a free policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • United India Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I got the UNITED INDIA INSURANCE health insurance policy around 4 months ago. This policy covers 2 members in my family. I have got the medical coverage up to Rs,3,00,000 from this UNITED INDIA INSURANCE health insurance policy. I never got any claim experience with this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • Max Bupa Health Insurance
      "Good Protection for Health"
      0.5 4.0/5 "Great!"
      Max Bupa gives the medical cover around Rs. 2 lakhs its covers only for me. I paid around Rs. 2500 as premium amount for one year. They do have tie up with good hospital. I hope Max Bupa is providing tax benefits and no claim bonus on the health policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • Religare Health Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      RBL gave me the Health insurance from Religare , without my knowledge they have charged me Rs. 3000 of premium, for the tenure of one year. Religare premium was converted into EMI. Religare gave me the medical cover around Rs. 1.5 lakh with cash less treatment facility and they got tie up around 1000 hospital in India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • Star Health Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have paid Rs,8000 to get the health insurance policy from the STAR HEALTH & ALLIED INSURANCE company. This policy covers 3 members in my family and it gives the medical coverage of Rs,3,00,000 and I never had any claim experience so far and I have got this policy around 5 months ago.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • Royal Sundaram Health Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Health Insurance with Royal sundaram.The premium amount is is 2500,the policy coverage is five lakhs,24 hours hospitalization. for any kind of claims.The payments is done online.I have no claim experience and cashless treatment is covered 95%.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • Bajaj Allianz Health Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Health insurance with Bajaj allianz,the premium amount is not paid my me as its offered by the company.The policy coverage is six lakhs including the family members.This is covered mediclaim as well as health insurance.The policy was taken two years back and no claim experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • United India Health Insurance
      "Good policy"
      0.5 3.0/5 "Satisfactory"
      I have taken a health insurance from UNITED INDIA INSURANCE. They provide cashless facility. And i dont have any previous claim experience. Yearly i have to renew the policy. This policy cover my family and myself. They provide cashless facility.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Feb 19, 2018
    • Star Health Health Insurance
      "Better"
      0.5 1.0/5 "Really Bad"
      I am having the health insurance policy with the Star health insurance company. Coverage value is around 3 lakh Rupees. I would like to say that the response is fine one for me with them and the customer service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 17, 2018
    • National Insurance Health Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I am having the health insurance policy with the National Insurance company. I used to talk with them very often and the claim went in easy manner. Everything went in the good aspects with them till now.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 17, 2018
    • Religare Health Insurance
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      I have corporate insurance from Religare Health, I didn't check the benefits, I believe I got medical cover upto Rs. 3 lakhs for my entire family. I got Religare e card. If in case of any emergency if I admit more than 24 hours I can get the reimbursement. I would suggest to enable daily check on insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • Bajaj Allianz Health Insurance
      "Good Insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a Mediclaim plan with Bajaj. I have had a good claim experience with them. They gave the amount pretty easily. Even in case of my relatives experience Baja readily payed about Rs.75000 for the treatment. The number of network hospital in it are pretty good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • Religare Health Insurance
      "Bad Experience"
      0.5 1.0/5 "Really Bad"
      This is my first term with Religare Mediclaim plan. 7 months down my Insurance my Brother had an accident, and consequently they didn't cover me up during this time. I had to pay more than Rs.1 Lakhs for the treatment. I applied for it thrice and all the three times it got rejected, they said accidents aren't covered in this Insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • Royal Sundaram Health Insurance
      "Average service"
      0.5 1.0/5 "Really Bad"
      I have taken Royal Sundaram Health Insurance policy,i purchased two months ago,the premium amount is is 6000 paid per annum,I dint receive the kit as yet.The policy coverage is three lakhs and they would cover 100% cashless treatment.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
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