For almost every employee, health insurance is one of the most important benefits offered by the employer. While providing group health insurance to employees, it is the employers' responsibility to ensure that the policy is well equipped to provide adequate coverage for the most recent procedures.
Here are some elements employers must look for while selecting group health insurance:
Provide them with adequate coverage
According to Raghuveer Malik, head-corporate insurance, Policybazaar.com, caring for the well-being of the hardworking employees must begin with providing them with adequate group medical coverage.
"With rapid advancements in the healthcare industry, medical staff are implementing new and innovative treatment methods in order to provide the best possible care to patients. This allows employees to get the most out of the coverage they have without having to spend a lot of money out of their own pockets,” said Malik.
Choose adequate sum insured
Choosing an adequate sum insured is one of the most important factors to consider when evaluating the best coverage for employees.
"During the first and second COVID-19 waves, we discovered that once a family member becomes infected with COVID-19, the chances of other family members becoming infected are quite high. To cover multiple hospitalisations within a policy year, coverage of at least Rs 5 lakh is required," Malik explained.
On-demand access to digital records
As per Malik, it is critical to provide employees with on-demand access to digital records because it allows them to quickly assess a patient's health status in times of emergency.
Check for additional benefits
Additionally, employees must ensure that the offered group health insurance policy covers maternity benefits for employees. Maternity coverage is one of the most important aspects of an employer-provided group health insurance policy.
Exclusion of co-payment clause and sub-limits
Finally, Malik pointed out that employers must provide coverage to their employees in plans that do not include a mandatory co-payment clause, as well as sub-limits on room rent and specific procedures.
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