Group Medical Insurance: Now A Core Employee Benefit

Group medical insurance is a health insurance policy that covers multiple people in a family or workplace. Ideally, organizations with more than 50 to 100 people buy these insurances to safeguard their employees’ health. Organizations usually use a single health insurance plan for covering their employees. In certain cases, the family members of the employees are also covered in the plan. The premium, which is significantly lower than individual health plans, is then deducted from the monthly salary of the employee. Every employee gets to avail the group cover as long as they are on the payroll of the organization. Group insurance policies pose benefits for both the employee and the employer. We will discuss about them in detail over the next few sections.

insurance protection for employees

Default Coverage

This is one of the major benefits an employee gets to avail when they become the part of an organization that offers group health coverage. In most cases, the coverage isn’t just applicable to them, but also extends to their entire family. This keeps them safe and while also making quality healthcare accessible.

Can be Customized

Yes, most group insurance plans can be customized according to the unique needs of your organization and its employees. What’s more, employers also have the flexibility of monitoring the benefits and coverage of these insurance plans, online.

Immediate Coverage

Group health insurance plans do not have any waiting period. This means, employees can make claims right after they get enrolled in these plans. This is a significant benefit as most individual health plans come with waiting periods that vary depending on the seriousness of your ailment.

No Conditions Attached

Employees aren’t asked to perform any health tests before getting enlisted in the group coverage. Very often, people can’t buy health insurance plans due to their existing medical issues. However, with group plans they get their desired coverage while also enjoying the opportunity of staying under the umbrella of health insurance at all situations.

Adheres to Global Medical Protocols

If you get a group health insurance from a reputed health insurance provider, you will get to unlock exclusive coverages that are in line with the medical protocols across the globe.

Portable Plans

Most of these group coverage plans are also flexible. This means, you will have the option of extending your existing coverage to enjoy the kind of facilities you want for your employees.

Maternity Coverage

Not all health insurance plans will have a provision for maternity coverage. Even if there’s a plan that offers this facility, they will have a long waiting period associated with it. But such us not the case with group medical insurance. These plans include medical coverage from the very first day.

Motivates Employees

A group health insurance also makes your company’s package more attractive for the employees. With the costs of healthcare exponentially rising with each passing day, a group health insurance stands as a godsend for most employees. It motivates them and also boosts their morale.

Now that you know why is a group medical insurance necessary, get one from a reputable provider, such as Cigna, to secure the health of your employees.

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