Employee health insurance is a group health insurance policy that is offered to employees by the employer. It is important to select the best employee health insurance policy to provide comprehensive Medicare coverage to your employees. Employee Insurance should be considered as an investment and get the right returns. Visit here.
Employee health insurance should consist of integrated health benefits to get the maximum utilisation for the employees. Employee health insurance should be chosen in such a way that there are integrated health benefits that lead to the right returns.
- Comprehensive coverage: Employee insurance should have comprehensive coverage to extract the right benefits out of it. Comprehensive cover includes hospitalization expenses such as inpatient, outpatient, daycare, room rent, ICU expenses, nursing expenses, organ donor expenses, Alternative treatment expenses, etc. The employee health insurance policy should be able to cover all types of treatments and provide 360 degree coverage to the employees.
- Co-pay: Co-pay or co-payment is the amount of claim that has to be borne by the insured at the time of claim settlement. Having a co-pay in the employee health insurance reduces the satisfaction of the employees as they would be forced to bear a certain amount of claim. Co-pay should be avoided in the employee insurance policy to get the right returns from the corporate health insurance policy. Co-pay reduces the premium payable under the employee health insurance policy.
- Disease-wise sub-limit: The disease-wise sub-limit specifies that there would be a maximum sum insured for certain diseases or illnesses. For example, if the disease-wise sub-limit for surgery is mentioned as ₹20k per eye then the maximum amount payable by the insurer would not exceed this amount. This is known as capping which would be mentioned disease-wise. The capping on diseases or illnesses reduces the satisfaction among the employees availing of employee health insurance policy.
- Network hospitals: Network hospitals are those hospitals that tie-up with the insurance company to provide cashless claim settlement services to the health insurance policy customers of the insurance companies. There should be an adequate number of network hospitals to gain maximum satisfaction or the right returns for the employees. The number of network hospitals in your area of residence or operation can be known from the insurance company’s website. The cashless claim settlement approval also should be given by the insurance company within a short period of time.
- Low premium: The most important thing in selecting the employee health insurance which gives the right returns is to get the policy with a low premium and at the same time not compromise on the coverage. A low premium can be obtained by approaching an insurance broker for your employee insurance requirements. Insurance brokers would be able to negotiate the insurance premium on behalf of their customers and can help the customers get the right returns with their employee health insurance policy. Insurance brokers are the best negotiators in the insurance market.
