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Don't Know Anything About Group Health Insurance? Read This Article to Know It

Published On Nov 01, 2019 5:30 AM By Prashant Srivastava

In this fast-paced life, people usually overlook the importance of health insurance, whereas everyone needs it. Fortunately, many insurance companies are providing customized health insurance products.

As an employer, if you want to provide your staff with an adequate health insurance plan, you may get confused with so many clauses, and benefits that come with Group Health Insurance for corporate employees.

It may be that you are not aware of the prized benefits of a group health insurance cover. This cover not just secures your employee’s health, but also lets you retain talented people.

To know in detail regarding corporate health insurance, keep reading this article. It includes everything such as what group insurance is, how it can provide protection to your employees and how you can buy group health insurance for employees and much more.

Group Health Insurance

A group health insurance policy is a single plan, covering employees and sometimes their dependents. The premium is decided by the employer based on the risk factors combining the entire group. When it comes to perks of corporate insurance, group health insurance ranks first. It is beneficial because of irrefutable benefits. This plan provides coverage to group members. The members can be employees of a company or members of an organisation.

With this type of policy offered by the employer, one can get health insurance at lower premiums because the insurer’s risk is spread across a group of policyholders. There are many insurance companies in India that offer group health insurance plans for corporate employees.

Top Corporate Health Insurance Plans in India

  • Group Medical Insurance by HDFC ERGO
  • Group Health Insurance by Chola MS
  • Corporate Health Insurance by Tata AIG
  • Employee First Classic health Insurance plan and Employee First plan By Max Bupa

Besides these plans, there are many other Group Health Insurance policies for employees that one can buy online.

Benefits of Group Health Insurance

The benefits of group health insurance (for the employers and the employees) are many. Let’s explore them.

Benefits For Employees

Corporate health plans are customized to suit the requirement of the group. Listed below are different types of health covers that are generally available for employees:

  • Cover for inpatient treatment due to accidents or sickness
  • Coverage for room rent, boarding expenses, blood, oxygen, operation theatre charges
  • The policy also covers expenses incurred on surgical appliances, diagnostic materials and x-ray, chemotherapy, dialysis, the fees of doctors, anaesthetists, etc.
  • Costs of treatment/medicines before getting hospitalized
  • Costs of treatment/medicines after discharge from the hospital
  • Daycare treatment and domiciliary hospitalization expenses

It is important to note that an employee can only get covered under the policy until he or she is working in the company. The moment they resign from the company, they can’t get the benefits of this policy. So, it is advisable to buy a personal health plan as well.

Benefits For Employers

Corporate health plans are also beneficial for employers. Below are some of the benefits:

  • Talent retention: By providing employees with a group health plan, employers can retain talent. In general, employees planning to seek or switch a new job, consider the benefits provided by employers. And health insurance is one of those benefits. When an employee switches, he or she tends to compare all the benefits offered by the current organisation and all that is given by the new one.
  • Productivity growth: When an employer offers health insurance, employees think the employer is taking care of their family. So, they pay full attention to their work.
  • Job satisfaction: With a group insurance plan by their side, employees are satisfied with their job. They tend to work with the organisation for a longer period.

Health insurance is a matter of great importance due to the increasing cases of lifestyle diseases or related problems. These problems are becoming common with each passing year. When you purchase a group plan for your staff, evaluate what your employees value the most in terms of benefits. Choose an insurer after weighing the premium, product and service aspects.

Also Read

Top-up Plan with Group Health Insurance? The Right Choice?

Common Benefits of Choosing Maternity Health Insurance Coverage Plans


No matter the size of a business, a group health insurance policy always provides benefits to employees. It assists the insured financially when a medical emergency strikes. It is a kind of help an employer can provide to its employees and retain the best talent. 

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