A Group Health Insurance Plan includes a group of employees of an organisation or members of a group, where the employer bears premium costs. Some insurance companies also include dependent family members of employees, providing mental satisfaction and financial security to the staff.
Published Date – 23 December 2024, 02:57 PM
Bangalore: A Group Health Insurance Plan includes a group of employees of an organisation or members of a group, where the employer bears premium costs. Some insurance companies also include dependent family members of employees, providing mental satisfaction and financial security to the staff. Due to the risk of Group Health Insurance Plans being spread amongst all employees, the premium amount becomes lower comparatively, making them the most affordable ones.
Best Group Health Insurance Companies
Here are the Best Group Health Insurance Companies in India:
1.Care Group Health Insurance
Formally known as Religare Health Insurance, it provides a variety of health insurance plans to organisations, individuals, and families. The group health insurance plan provides the employees with financial security arising from medical issues. Its features are as mentioned below:
- Pre-existing illnesses covered from starting
- Specialised Health Insurer dedicated to working in the industry
- No TPA required due to in-house claim management
- Flexibility in choosing plans depending on employer’s requirements
- No pre-health check-up required
- Real-time access to digital portal or mobile app for service-related queries
- Critical illness coverage for hospitalisation from starting
- One of the largest network chains of cashless healthcare insurance providers
2.Cholamandalam MS Group Health Insurance Company
Its products include health, accident, motor, engineering, etc. No prior medical examination is required from the employees in the case of a group health plan. Its features are as mentioned below:
- No pre-health checkup is required for up to the age of 45 years.
- In case of road traffic accident claims, the policyholder is entitled to get an additional sum insured once during the policy tenure.
- The settlement process is faster, i.e. 90% of the claims are settled within 45 minutes.
- Get a tax benefit on the amount of premium paid u/s 80D.
3.Navi Group Health Insurance Limited
It protects employee’s health by providing relevant health insurance plans. Its features are as mentioned below:
- CSR up to 97%
- Comprehensive health insurance coverage
- Paperless process
- Get the claim raised in 20 minutes
- Subscription-based model
4.Zuno Group Health Insurance Company
It is one of the largest financial service providers in India, offering equity and some investment-related services. Its features are as mentioned below:
- Get the amount covered of up to INR 5 crores.
- Get AYUSH coverage in the base plan.
- Get 30 days of pre-hospitalisation included.
- Get 60 days of post-hospitalisation covered
- Get domiciliary coverage up to 30% of the sum insured in the base plan.
- IFFCO Tokio Group Health Insurance Co Ltd
It is renowned for its transparency and quicker response time. It has a self-owned distribution channel with the mentioned features:
- Lower premium
- Customisable plans
- Get a cashless claim facility at network hospitals
- Its coverage starts from Day 1.
- All members of an organisation are covered.
Conclusion
Choosing the right Group health insurance creates mental peace amongst employees and helps increase satisfaction levels. By comparing the best insurance companies, an organisation can find the insurance company as per its suitability, hence securing the health and happiness of employees and their families.