You have a pre approved offer
Currently, we do not have a personalized offer for you but don’t be disheartened. Check out our oven fresh deals of the day here!
We have 02 personalised offers for you
Currently, we do not have a personalized offer for you but don’t be disheartened. Check out our oven fresh deals of the day here!
As we all know, life does not follow a fixed pattern. We go through an ever-changing work-life balance, which can lead to sudden illnesses and unfortunate bodily injuries. This can leave you both emotionally and financially stressed out.
In matters like these, the least that an employer can do is to offer health insurance plans as a part of additional benefits to their employees. This health plan offers adequate health coverage to the employees and extends the benefits of the policy to their families as well.
So, if you are an employer who is looking to get the employees good health insurance coverage, you might want to consider a group mediclaim plan for employees.
A group mediclaim policy is a healthcare coverage provided to the people belonging to a specific group/community. It is also known as group health insurance for employees as it is often offered to employees by their organisation.
There are several variations to group health insurance so that employers can customise the plan according to the needs of their employees. Some group mediclaim plans cover the employee as well as their family members. The type of group plan to be chosen completely depends on the employer.
A group mediclaim plan offers benefits to both the employee as well as the employers. Here, take a look!
Increases employee retention: With so many job offers available in the market, employee retention can be difficult. However, if you (the employer) are providing adequate health coverage to your employees and their families, the chances of your employees staying in the company increases.
Motivates employees: We all know that the medical costs are off the roof. Because of this reason, many people in India are reluctant to buy health insurance for themselves and their family. Having their company provide the same will motivate the employees to consider buying a health plan to secure themselves and their loved ones.
A wide range of benefits at a nominal cost: A group mediclaim policy is comparatively affordable than individual health insurance plans. Hence, the employer can offer a wide range of features at nominal premium costs to the employees.
Coverage for pre-existing diseases: The employees enrolled under the group mediclaim plan can get coverage for pre-existing diseases, ailments, or injuries, only after completing 36 months of continuous coverage. Also, know that you have to disclose the pre-existing diseases, ailments, or injuries in the proposal form when enrolling for the policy.
An extensive coverage: While a group mediclaim plan covers the pre-existing health conditions, it also covers a wide range of diseases under it.
Now, let us take a look at some features of group mediclaim plans available in India.
The following is a list of common features offered by Group Mediclaim Plans.
Employees can seek cashless claim facilities at any of the network hospitals
Some group health insurance plans also cover pre-existing illnesses after the completion of the waiting period (as stated by the insurer)
Group mediclaim policy for employees also extended coverage to the dependents of the insured (spouse, children, and parents)
Some policies also cover ambulance cost
Some policies offers reimbursements of fees for specialists and other medical practitioners in case of follow check-ups
Tax benefits with deduction under Section 80D of the Income Tax Act, 1961
The following are the common things covered under the group mediclaim policy.
Preventive health check-up
Hospital cash benefit
In-patient hospitalisation treatment
Pre- and post- hospitalisation
Road ambulance
Daycare procedures
Organ donor expense
Sum insured reinstatement benefit
Ayurvedic/Homeopathic
Hospitalisation expense
Some of the common things that are not covered under group mediclaim plans are as follows –
Some plans do not offer coverage for parents of the employee
The validity of group mediclaim plans for the employees is limited. It is generally valid until the employee is working at the company and has to be renewed every year.
Congenital diseases and the expenses incurred in the treatment of HIV/AIDS is not covered
Any medical complications arising due to the use/abuse of alcohol or drugs
The process to claim on group mediclaim policy is the same as that of most other health insurance plans. Just follow the steps given below:
Get in touch with your insurer to register the claim
Fill and sign the claim application form
Upload the necessary documents/medical bills
Wait for the insurer to assess your application
Check the claim status online or contact your insurer for more details
The following list of documents play a vital role in approving your health insurance claim.
Duly filled and signed claim application form
Final investigation report
Doctor’s prescriptions
Medical reports
In case of accident, the police FIR
Cash memos and itemised bills
Hospital discharge summer and suggest line of treatment (if any)
Any other related document
The group mediclaim policy offered by your employer is a good way to cover the medical expenses of you and your loved ones. But a group mediclaim plan is not sufficient at times. Hence, it is advisable to buy a comprehensive health insurance plan that provides extensive coverage.
In case you are looking for a health insurance plan that covers you and your family, browse Health Insurance Plans available on Finserv MARKETS, and choose a policy that best suits your requirements.
I am passionate about the vehicle I drive. I want to protect it with the best available option. What amazed me was the full transparency, quick quotes and the attractive discount on the premium while choosing the annual payment option!
My husband and I will finally move into our own house this Diwali. All thanks to Bajaj Finserv, with competitive interest rates, minimal processing fees and easy to repay EMIs, our dream saw the light of reality in no time!
Kids grow up fast and to fulfill their dream trip to Disneyland I had everything but instant funds. With no collateral or guarantor required and a hassle-free processing, I gifted my family a memorable trip to Orlando with just a click!
The best way to start looking for health insurance is to do a close study of the coverage needs and checking the insurance company's claim ratio. No unnecessary jargons, easy to apply claims process and choice of premia!
I bought my first iPhone using my Bajaj Finserv EMI Network Card. Zero downpayment with a No cost EMI on Bajaj Finserv EMI store just made my day!
Getting a loan to take care of my wedding and relieving my parents to enjoy the occasion was the best decision I ever made. Easy-to-apply, amazing interest rate and quick disbursal, what more can one ask for!