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What is group health insurance?

Group health insurance coverage is a type of insurance plan that covers a group of people who belong to the same organisation. This type of cover is also called an employee insurance plan or a corporate insurance plan.

What makes a group health insurance plan an essential benefit for all employees?

Well, you can extend the health insurance plan’s scope to cover the spouse, children, parents, or parents-in-law of employees. In addition, a group plan also covers personal accidents, maternity benefits, daycare treatments, room rents, among many other additional services. At Plum, we take great care to understand the needs of the employer and employee. Therefore, we structure plans that offer more value and benefits at affordable costs.

Why buy a group health insurance policy?

The pandemic has changed many things; one is how we look at our health. Medical costs are skyrocketing, and equal access to good quality healthcare has become the immediate requirement for everyone in India. Health insurance is no longer just an added benefit but a necessity for employees.

Here are three reasons why you should think about getting a group plan today:

Meet your employees’ expectations

Create the best working space for your teams and workforce. A group health insurance plan is the first step in showing your employees that you care.

Give your employees’ peace of mind

Providing your employees with medical cover makes them feel prepared for unforeseen events. This peace of mind helps in retaining employees & keeps them happy.

Good employee health improves productivity

Providing your workforce with regular health checkups at zero expense will keep your employees healthy, resulting in lower sick leaves and improved productivity.

Advantages of a group health insurance policy

The pandemic has changed many things; one is how we look at our health. Medical costs are skyrocketing, and equal access to good quality healthcare has become the immediate requirement for everyone in India.

More value at lower premiums

An employee health insurance allows you to provide coverage to the employee and their family at a much lower cost than an individual health plan.

Get tax benefits under Sec 80D

With group health insurance, everyone gets tax benefits. Your employees get medical protection, and as an employer, you can avail of tax deductions.

Pre-existing diseases covered from day 1

Group health insurance plans cover pre-existing conditions (like diabetes, etc.) right from the start of policy inception.

Maternity coverage

A maternity cover is an additional benefit that you can add to your group health insurance plan at a low cost.

Why should you buy group health insurance with MantraCare?

We understand that a group health insurance plan is not a one-size-fits-all type of plan. With MantraCare, we will walk with you every step of the way and help you choose the perfect plan for your team. It doesn’t matter whether you’re a 1000 person or a ten-person team; we provide the best plans for all.

With MantraCare’s group health insurance experts and industry-wide knowledge, we make sure to get you the best healthcare policy.

FAQs

1. Is COVID-19/Coronavirus covered in a group health insurance policy?

Yes. All group health insurance policies cover COVID-19 and related illnesses.

2. What is the benefit of group medical insurance for employees?

Buying a comprehensive group cover scheme for young start-ups and small companies is a great way for founders to retain and attract good talent. Employees often prefer organizations with good health benefits and wellness programs.

3. Are group health insurance premiums tax-deductible?

Yes, you can avail of certain tax benefits through group health insurance.

4. How much does group health insurance cost?

Group health insurance costs vary based on the number of employees, sum insured, and benefits opted for. Get a group health insurance estimate using our premium calculator.

 

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