What Are The Benefits Of Corporate Health Insurance?

A corporate health insurance plan is a type of insurance that covers groups in professional organizations from various risks such as employees’ health, accidents, financial losses, and more. Group health insurance is synonymous with corporate health insurance.

Corporate medical insurance is becoming prevalent in India as more and more companies are providing health benefit covers for the well-being of their employees.

What Are The Benefits Of Corporate Health Insurance Policies?

• Added Health Coverage

  Under corporate medical insurance plans, employees can choose to opt for additional family health or individual health insurance plans. This provides them with added insurance cover.

• Pre-Existing Disease Cover

  Some organizations provide their employees with a health insurance cover for pre-existent medical conditions. These covers and benefits are available from the very first day and some corporates offer insurance even to employees suffering from chronic ailments such as diabetes, hypertension, and the likes.

• Maternity Coverage

  Certain companies provide high maternity health insurance covers to take care of their female employees and the dependents of male employees. Childbirth expenses are also covered under these benefits. Moreover, many companies also include newborn babies under the group health insurance plan without any waiting period.

• Job Satisfaction

  Providing corporate mediclaim policies shows the employees that the company cares for their health and well-being. This leads to greater job satisfaction and helps employees feel valued and content within the organization.

• Support In Times Of Sudden Medical Emergencies

  Corporate medical insurance plans provide much-needed financial assistance in times of need. If an employee or his/her dependents encounter a sudden medical emergency, then the organization’s health insurance benefit ensures that they do not have to compromise on the quality of medical treatment that is required.

• Attracting Good Employees

  A corporate mediclaim policy is a great perk for any individual seeking a job in an organization. Having good health insurance plans for employees and their families helps find and retain good employees.

• Performance And Morale-Boosting

  When a company provides solid corporate health insurance plans to its employees, it gives them peace of mind and boosts their morale, which, in turn, aids their organizational performance.

How Are Corporate Health Insurance Policies Different From Regular Plans?

Corporate health insurance plans are different from regular health insurance plans as they are provided to employees and their dependents by the employer as opposed to the individual buying it for himself/herself. Moreover, the waiting period under health insurance plans, which are generally prolonged durations of either 12, 18, or 24 months, are waived off under corporate health insurance. Under these policies, medical examinations are skipped as well. The premiums are considerably smaller in amount than your regular health insurance. This is because of the larger number of employees insured.

Before joining any organization, it is important to look into the corporate health insurance plans offered. An organization may have a customized plan for their employees or may adopt from the plans offered by the insurers. Have a look at the necessary policy documentation before getting yourself enrolled in one such corporate health insurance policy.

Make sure you do a good amount of research before buying any health insurance coverage. Our health insurance guide has articles related to, types of health insurance policies, chronic health problems, premiums etc. Be well informed and make the right choice to secure your future.