Advantages Of Providing Insurance To Your Employees
Advantages Of Providing Insurance To Your Employees

Advantages Of Providing Insurance To Your Employees

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Because healthcare expenses are rising, people purchase health insurance to cover medical emergencies. Many of you may not consider purchasing health insurance for yourself. You may reconsider if group health insurance policies at work are simple to sign up for and utilize. The benefits plan provides numerous benefits you cannot live without. Learn about group health insurance and what it could do for you.

What is the insurance process?

A group health insurance plan, as the name implies, is a program that covers all employees under a single policy. The organization’s employer provides the perk. Because the risk is spread across several people, the plan saves money. The insurance plan is included in the group Mediclaim insurance plan for staff members.

The premium is deducted from an employee’s CTC. However, some businesses provide free health plan insurance to their employees. According to the Ministry of Home Affairs, everyone must get group health insurance. Every private or public corporation is required to provide health insurance to its employees. However, coverage and the number of hospitals may differ.

A group Mediclaim coverage could assist pay for the following costs:

Hospitalization in the event of an accident

If you or a liked one is harmed in an accident, the plan covers medical expenses before and after you go to the hospital. The fees include ambulance travel, obtaining a diagnosis, renting a room, etc.

Illness-related hospitalization

A group health insurance plan will cover you and your family if you fall sick. Treatment and hospital stays are covered by insurance.

Psychiatric illness

A group health insurance plan can help someone with a mental illness. Finally, mental health is equally vital as physical health.

A critical sickness

Any significant disease can be quite expensive. Critical illness insurance is available as part of the group health care plan. If a serious illness is discovered, the plan assures you or a loved one will receive the best care.

Maternity benefits and support for a new baby

Maternity benefits may be available through a group insurance plan. The coverage assures you or your spouse can give birth without fear of financial repercussions. In addition, the plan covers the baby for the first 90 days following birth. Aside from that, it covers infertility treatments and other expenses.

Annual physicals

Group health insurance will cover any medical examinations that you or someone you care about requires.

Insurance Benefits

A group health insurance plan for employees has various advantages over an individual one. They are as follows:


Everyone pays the same amount for group health insurance and receives the same coverage. It reduces premiums, making the plan less expensive than an individual or family floater.

Protection for your family

One of the nicest aspects of a group Mediclaim insurance plan is that it covers the health of your entire family. You do not need separate health insurance policies for each family member. Instead, enroll them all in the same group plan. Up to five persons who rely on you are usually protected at no extra expense.

Offer flexibility

A group health insurance policy allows you to enroll more members and receive more benefits. The plan also covers pre-existing illnesses and OPD costs. Wellness programs and annual health exams are also available.

It is simple to submit a claim.

Contacting the HR department may ensure that the insurance company pays all medical claims. You can go to the clinic without spending out of pocket if you have group health insurance. This saves energy and time while also making the procedure easier.

It helps to motivate people.

Employees feel appreciated and valued when they access a group health insurance plan. They feel inspired, which increases their productivity and happiness at work.

For currently existing disorders, there is no waiting period.

Individual health plans require you to wait before filing a claim for diabetes, high cholesterol, or high blood sugar. A group health insurance plan mitigates the disadvantage. You do not have to wait until your group healthcare policy starts to file a claim.

The benefit can be obtained without a health examination.

An individual must undergo a health checkup before receiving a regular health insurance policy. Group insurance, on either hand, does not cover staff health checkups.

Is Having an Insurance Policy Enough?

Employees are fully aware of the advantages of a group medical insurance policy. The organization saves money on taxes and retains good employees by implementing a group health insurance plan. Employees are more committed to the organization when they are inspired.

However, there are several disadvantages to a group health insurance plan. When you leave work or retire, your group health insurance policy terminates automatically. So, to be financially secure in a medical emergency, you need to purchase regular health insurance.


COVID-19 has made people more conscious of the importance of having adequate health insurance. Many people had to bid goodbye to their loved ones since they couldn’t afford it due to the escalating cost of health care. Employee group health insurance provides advantages, but you will not lose a loved one due to a lack of funds unless you also have normal health insurance.

If there are a lot of COVID-19 waves, you could also acquire COVID-19 insurance. It contributes to the price of hospital stays required to treat the fatal infection. Getting a good healthcare plan to cover unforeseen medical bills is critical.

To safeguard your and your family’s life, Tata AIG offers a variety of health insurance products, including group health coverage. When purchasing a health insurance policy, we recommend purchasing critical sickness insurance. So, obtain the appropriate type of health insurance as soon as possible.

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