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

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  • National Insurance Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I had a claim experience many time where and it was cashless also reimbursement, i got 80-90% claim. I am holding since from last 10 years also paying the premium for 6K for medical coverage of 1L. The disease, pre existing disease, illness, accidental coverage is there.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jun 18, 2019
  • Reliance General
    Reliance General Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have taken health insurance with Relience GENERAL INSURANCE for my family , the agent had given me all informations and shared me the location which they have tie up with many hospital, the premium amount i use to pay on yearly basis ,the medical coverage i have taken up to 10,00,000.
    Was this review helpful? 0
    , kanpur
    Reviewed on Jun 18, 2019
  • SBI General Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been taken my health insurance with SBI general insurance, their service is good, i have been paying it from past 3 years, so far my experience was good, the premium amount i use to pay on yearly basis, the medical coverage is up to 10,00,000 , i have taken top with this insurance company,i use to pay premium to an agent directly.
    Was this review helpful? 0
    , kanpur
    Reviewed on Jun 18, 2019
  • review Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my health insurance with Aviva health insurance from long time, I have taken claim experience with them 2-3 time, my experience was good, it was cashless treatment done, premium amount i use to pay on through my company itself
    Was this review helpful? 0
    , kanpur
    Reviewed on Jun 18, 2019
  • Star Health Health Insurance
    "Medium"
    0.5 3.0/5 "Satisfactory"
    I have taken a health insurance in STAR HEALTH before 2 years ago. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided documents along with a card as well. I use to do payments through an online. It is applicable for cashless treatment. They have tied up with many hospitals.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 18, 2019
  • Royal Sundaram Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I had a claim experience which was good and i was hospitalized, it was cashless but i got 80% of claim where i had claim for 30k i got 20-25k, customer support was helpful. The premium paid was 7K, medical coverage of 5L for family. It has the disease, accidental, illness coverage is there.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 18, 2019
  • Apollo Munich Health Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been holding my health insurance with Apollo munich from past four years, they have tie up with more than 3000 hospital and they have shared the locations of that hospital through hard copy, so far i did not face any issue, i use to pay premium through on line on yearly basis.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 18, 2019
  • HDFC Ergo Health Insurance
    "Its good for medical emergency"
    0.5 4.0/5 "Great!"
    I have health plan with HDFC Ergo, I make Rs. 12,000 premium for per annum it has duration of one year. Its cover individually upto Rs. 5 lakhs including ambulance facility for the emergency, they got tied with many hospitals across in India.
    Was this review helpful? 0
    , secunderabad
    Reviewed on Jun 18, 2019
  • HDFC Ergo Health Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have taken my health insurance with HDFC ERGO general insurance, they have tie up with many hospital, the premium amount is use to pay on yearly basis, they charged nominal premium amount, so far i have not done any claim experience from them.Their overall service is good.
    Was this review helpful? 0
    , chennai
    Reviewed on Jun 18, 2019
  • Bajaj Allianz Health Insurance
    "Better health insurance policy"
    0.5 5.0/5 "Blown Away!"
    Since its a oldest company in Market and Experience with a company is good, claim settlement ratio is high hence i have chosen the health insurance policy frok Bajaj Allianz. Iâ??m paying the premium amount of Rs. 8345 for the coverage amount of Rs.3 lakhs and all my entire family has covered in this policy and i have chosen the annual payment mode. I do not have any claim experience so far.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 18, 2019
  • HDFC Ergo Health Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have taken my health insurance with HDFC Ergo insurance, their service is good, there agent had explain me about the policy which is covered in this insurance and they have tie up with many hospital and they have shared me there location , and the premium amount they have charged me was nominal. I use to pay through on line on yearly basis.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 18, 2019
  • HDFC Ergo Health Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance in HDFC ERGO before 8 years ago. It will renew for every 2 years.I am paying premium in the yearly package. Through an online I have came to know about all the policy details. I use to do payments through an online. It is applicable for cashless treatment. They have tied up with many hospitals. This policy coverage for whole family.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jun 18, 2019
  • Star Health Health Insurance
    "Good"
    0.5 5.0/5 "Blown Away!"
    I have taken a health insurance in STAR HEALTH for more than 3 years. The policy is for 20 years. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details and provided documents as well. I use to do payments through an online. They have tied up with many hospitals. There is an option for a cashless treatment.
    Was this review helpful? 0
    , kolkata
    Reviewed on Jun 17, 2019
  • Reliance General Health Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have taken health insurance with Relience GENERAL INSURANCE for my family , the agent had given me all informations and shared me the location which they have tie up with many hospital, the premium amount i use to pay on yearly basis , i use to pay upto 10,000, it use to get auto debited from my account.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 16, 2019
  • SBI General Health Insurance
    "Average card"
    0.5 3.0/5 "Satisfactory"
    I have taken my health insurance with SBI general insurance just twenty days back, they have tie up with many hospital but i have not done any claim experience with me , the premium amount i need to pay on yearly basis up to 3400 , i have taken this insurance for my family medical coverage for cash less treatment.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 16, 2019
  • ICICI Lombard Health Insurance
    "Not satisfied"
    0.5 1.0/5 "Really Bad"
    I was holding ICICI lombard health insurance previously , but i was not much happy with their service, their service is not up to the mark, the agent had convince me take this insurance, i have taken for me this insurance, but my claim experience was not good ,like i was admitted to that hospital where unfortunately they did not had tie up with , but the agent said no issue you can do reimbursement that amount, but after that they did not did so , so i closed it.
    Was this review helpful? 0
    , noida
    Reviewed on Jun 14, 2019
  • Royal Sundaram Health Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have a health insurance policy with Royal sundaram from past 4-5 months, this policy cover accident claim and there customer support team have explain me about this policy and the premium per year it nominal, but i did not got policy card or hard copy of that they have just send me soft copy about the policy, i use to pay through on line, till now there service was good. So far i did not done any claim experience.
    Was this review helpful? 0
    , noida
    Reviewed on Jun 14, 2019
  • Star Health Health Insurance
    "GOOD"
    0.5 5.0/5 "Blown Away!"
    I have been using the health insurance policy since from last 2 years. I had no claim experience and the premium paid 10500 rupees, medical coverage is for 3L for family. There are no other coverage is there in this policy, the listed hospital is good.
    Was this review helpful? 0
    , pune
    Reviewed on Jun 14, 2019
  • Star Health Health Insurance
    "Reliable policy"
    0.5 4.0/5 "Great!"
    Purchased my health insurance policy from star company. Because of the word of mouth, i have taken the policy with them. Yearly twice i have been paying the premium amount. I pay the premium amount of RS. 6000 in half year. For me and my mother has been covered in this policy. I do not have any claim experience so far. I make the premium through online.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jun 14, 2019
  • Tata AIG Health Insurance
    "Average service"
    0.5 3.0/5 "Satisfactory"
    I have been using TATA AIG health insurance from long time, they have tie up with many hospital and had shared me the location of it, so far i did not taken any claim experience, the premium amount i use to pay on quarterly basis , it use to get auto debited from my account.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 13, 2019
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