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Group Health Insurance

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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.

Group Health Insurance Reviews

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  • United India Health Insurance
    "Good Claim Experience"
    0.5 5.0/5 "Blown Away!"
    I got group insurance from company, on time I got policy. My father was not good at the time I have used the policy. I got the reimbursement around Rs. 23,000 the total value is Rs. 33,000. I went to shobha hospital they don't have tie up with United India, hence I got the reimbursement.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 18, 2019
  • Max Bupa Health Insurance
    "Good Claim Experience"
    0.5 5.0/5 "Blown Away!"
    I have medical cover with Max bupa, they gave me the coverage value of Rs. 5 lakhs its covers for entire family. One time I claimed for my mother for the eye surgery, I got the reimbursed within 30 days with 90% of amount, the total experience was good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 18, 2019
  • New India Health Insurance
    "Yet to experience the policy"
    0.5 5.0/5 "Blown Away!"
    My company has provided me a health insurance policy from new India. As per company norms, they have given me a coverage value of Rs. 5 lakhs. My entire family has been covered in this policy. They are offering a cashless treatment facility.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 18, 2019
  • United India Health Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy in the year of 2018 and the the premium has been deducting from my salary. The premium amount has not been too high and there has been many hospitals collaborated within my locality. There has also been some cashless treatment available with this policy as well.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 17, 2019
  • Star Health Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have my health insurance with Star health insurance, i had claim experience with it, my experience was good, they have good tie up with my hospital and they have mailed me about the location of it, and i am happy with there service, they have charged me premium amount on yearly basis, and the premium amount is nominal for me, and i use to pay through on line mode.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 17, 2019
  • Max Bupa Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken my health insurance with Max BUPA , i have not opt there policy yet and i use to pay premium on monthly bases , and it use to get auto debit from my account and while i applied for health insurance customer service had explained me about all procedure , so far the process went smoothly and it good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • Max Bupa Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I got the health insurance with Max bupa health insurance, there service is good, they have charged me premium nominal ,and the premium is on yearly basis, and they have tie up with many hospital , and had shared the details via mail, and i pay premium amount through on line mode.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 17, 2019
  • HDFC Ergo Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I got the health insurance with HDFC Ergo, they got tie up with many hospitals, and they have shared me location on those hospital in mail, and they have charged me nominal premium amount ,they have charged me up to 17000-18000 as premium, it is on yearly basis, and i use to pay the premium on an on line basis.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • SBI General Health Insurance
    "Bad experience"
    0.5 1.0/5 "Really Bad"
    I got the health insurance with SBI, they got tie up with many hospitals. I Felt the medical cover its less and i am not happy with there support team ,like if i want to call the customer care there number would not be reachable and they use to mail me PDF after paying premium amount,it would not get open, they have charged me premium amount on yearly basis,i have bad experience with this bank.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jan 16, 2019
  • HDFC Ergo Health Insurance
    "Very good benefits"
    0.5 5.0/5 "Blown Away!"
    I have a health insurance from HDFC ERGO which was purchased by me in the year of 2018 because the benefits are very good. The claim process was simple and they have more number of hospitals for cashless. I have paid 18,800 for one year and took 3 years policy for myself and my wife. The medical coverage is 10L for myself and 5L for wife.
    Was this review helpful? 2
    , bangalore
    Reviewed on Jan 14, 2019
  • HDFC Ergo Health Insurance
    "Good"
    0.5 3.0/5 "Satisfactory"
    I have taken health insurance from HDFC Ergo which was offered along my personal loan. I have received the insurance paper and its been couple of months. It covers critical illness and need to go through the policy benefits. Always the customer is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 14, 2019
  • Tata AIG Health Insurance
    "Great company"
    0.5 5.0/5 "Blown Away!"
    I have taken health insurance from tata aig. I did take health insurance from tata aig for my parents and The Process was so simple. Customer representative is good. The customer service and response was on time, never had any issues. Now I feel safe for my family Thank you tata aig.
    Was this review helpful? 0
    , solapur
    Reviewed on Jan 12, 2019
  • ICICI Lombard Health Insurance
    "Good Health insurance provider"
    0.5 3.5/5 "Pretty good"
    This policy was part of my employment, I took the medical coverage of Rs. 5 lakhs for the tenure of one year, this medical benefits for my entire. They have good networks of hospital with major disease cover. But I think it doesn't have no claim bonus.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 11, 2019
  • Reliance General Health Insurance
    "On time approval with reliance"
    0.5 4.0/5 "Great!"
    For my spouse operation I used the health policy, I approached them for the claim through hospital. I submitted the form and they send the papers to the Reliance insurance company. I got the cash less treatment, but I paid some amount which was not covered. But they gave me the on time approval.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jan 11, 2019
  • Cigna TTK Health Insurance
    "On time service"
    0.5 5.0/5 "Blown Away!"
    On time Cigna TTK have activated the policy which provided by the company, the policy which I hold it has the coverage of Rs. 4 lakhs its covers for me. They are providing coverage for the pre existing with the tax benefits but there is no claim.
    Was this review helpful? 1
    , dandeli
    Reviewed on Jan 10, 2019
  • Cigna TTK Health Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    In Cigna TTK, they are providing pre existing disease cover, but they don't have no claim bonus features. The response is good they have good customer care working 24/7 , the medical coverage is good for me and entire family. They have many hospital which they got tie up in Mumbai.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jan 10, 2019
  • Apollo Munich Health Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a while back and i had been paying the premium amount on an annual basis. The premium method has been convenient and the premium amount has not been high. There has been many hospitals covered in my locality and their customer support has also been helpful.
    Was this review helpful? 2
    , pune
    Reviewed on Jan 09, 2019
  • ICICI Lombard Health Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    My organization has provided me a health insurance with ICICI Lombard. I have not claimed anything from this policy. My entire family has been covered in this policy. They have given me a coverage value of Rs. 3 lakhs. This is a cashless policy.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 09, 2019
  • Star Health Health Insurance
    "Good"
    0.5 4.0/5 "Great!"
    My company has offered a health insurance from Star Health with the coverage of 1L, its for the family, Still I have not used the policy and am gone utilize the policy within 15 days for my family.They covers a major disease. I have called the customer service and the response is good. I am planning to go for reimbursement, they do have minor network of hospitals for cashless. I can recommend after completing my claim.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 09, 2019
  • National Insurance Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    My company has provided me a health policy from National insurance with the coverage of 2L. It is for the family members and no claim. I never contacted the customer service. Every year it was renewed by the company. They have limited networks of hospitals for cashless. It does not cover only eye problems, if we got admitted in hospital for 24hrs then applicable for claim.
    Was this review helpful? 0
    , pondicherry
    Reviewed on Jan 09, 2019
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