Group Health or Medical Covers are generally brought by employers or business owners for the employees of the organization and their dependent family members. It is a best Way under which large number of people are brought under Social Security cover.
Employees in a progressive organisation are provided many benefits, health insurance being one of them. This benefit allows for payment to hospitals in the event of being admitted for treatment. Depending upon the nature of the business and competitive industry scenario, organisations offer this to employees and their families.
The coverage under this policy is anywhere in India and available for 24 * 7 * 365.
Health insurance covers the cost of treatment for any illness injury or disease which requires hospitalization for a minimum of 24 hours ( except in case of Day Care Treatments which can be done in less than the 24 hour period viz Cataract, Dialysis, Chemotherapy, Radiotherapy etc )
In a group health insurance cover, an organisation can tailor make terms which otherwise are excluded in a typical retail policy. These include -
Cover for Pre Existing diseases.
- No waiting period of the first 30 days.
- No waiting period for 1st / 2nd year excluded treatments / ailments viz Hernia, stones etc.
- Coverage for Maternity - with / without 9 months waiting period.
- Baby Cover from Day 1 of birth ( normally covered after 90 days).
- Amount of Maternity - for Normal Delivery & C- Section.
- Including / Removing capping on certain treatments like Cataract, Hysterectomy, stones etc.
- Corporate Buffer - in case any employee exhausts his sum insured, then, at the discretion of the management, an additional amount can be given by the insurer for that employee / family.
- Co payments ( amount to be borne by the employee as a percentage of claim ) - introducing this feature to reduce premiums.