Group Health Insurance
Group health insurance is a type of health insurance plan that provides coverage to a specific group of people — usually employees of a company or members of an organization. Instead of individuals purchasing their own policies, the organization or employer arranges a single policy that covers all eligible members under one plan.
Key Features of Group Health Insurance:
Single Policy, Multiple People
- One policy covers all employees/members and sometimes their dependents (spouse, children, parents).
Lower Premiums
- The risk is spread across a large group, so premiums are usually cheaper compared to individual health insurance.
Employer Contribution
- Employers often pay a significant portion (sometimes 100%) of the premium, making it affordable for employees.
Comprehensive Coverage
- Covers hospitalization expenses, surgeries, maternity benefits, day-care procedures, pre & post-hospitalization, and more.
- Some plans also cover OPD (outpatient) expenses, annual health checkups, and wellness benefits.
No Medical Check-up Required (Mostly)
- Unlike individual policies, group plans typically don’t require medical tests for enrollment.
Tax Benefits
- Employers can claim tax deductions for premiums paid under Section 37(1) of the Income Tax Act (India).
Easy Portability
- Employees leaving the organization may be given an option to convert to an individual health policy.
Benefits for Employers
- Improves employee satisfaction and retention.
Enhances organizational goodwill
- Provides financial protection to employees in case of medical emergencies, reducing productivity loss.
Benefits for Employees
- Affordable or free health coverage.
Coverage for family members
- Immediate coverage from Day 1 (no waiting periods for pre-existing diseases in many plans).
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404, Samarpan Building, Dr. Charat Singh road, Chakala, Andheri East, Mumbai - 400 099.
Call Us - +91 97690 05700
Email - helpriskfreelife.com
