What Employee Health Insurance Options Are Right for You?

Employee Health Insurance

Employee health insurance is the insurance taken by the employer to cover employees. The employee health insurance can be extended to the family of the employees on payment of additional premium. The additional premium can either be collected from the employees or borne by the employer. Employee health insurance is provided to the employees as a part of the employee benefits. Employee health insurance coverage is decided by the employer as the premium is paid by the employer and the employee has a very little say in the process. Visit here

There are two types of employee health insurance which are right for the employees as mentioned below:-

  • Group health insurance: The first employee health insurance policy is the group health insurance policy which provides health insurance coverage to the employees on payment of premium. The premium amount for group health insurance is usually paid by the employer and the coverage is enjoyed by the Employee. The group health insurance includes the below:-
  • Inpatient hospitalization where the employee is admitted to a hospital for more than 24 hours due to an illness, disease or an accident. The inpatient hospitalization limit is the sum insured mentioned under the policy.
  • Day care treatments where the insured member can undergo treatments and get discharged on the same date. Due to the advancement in technology most of the surgeries and treatments are being done on day care basis where there is no requirement for inpatient admission.
  • Outpatient treatment which does not require admission as an inpatient.
  • Alternative treatments such as Ayurveda, Yoga, Unani, Siddha and Homeopathy. The maximum limit of coverage under this section varied from one insurance company to another.
  • Modern treatments and robotic treatments.
  • Room rent and ICU rent in addition to the doctor’s consultation charges.
  • Maternity Expenses would be covered. In addition to the maternity cover, newborn baby cover would also be available under the group health insurance policy. The sum insured or the limit of coverage in case of maternity cover would be over and above the basic sum insured limit.
  • Emergency ambulance charges are paid to the insured members on per event basis or per policy basis which varies from one insurance company to another.

Group personal accident insurance: The other type of employee health insurance which is right for you is the group personal accident insurance. The group personal accident insurance is taken by the employer for their employees. The policy provides compensation to the insured members in case of disability. The limit of competition depends on the type of disability. Under group personal accident insurance, temporary disability as well as permanent disability are covered. Disability can be complete or partial in nature. Depending on the type of disability and the nature of disability the claim would be paid. Group personal accident policy is a benefit policy whereas the group health insurance policy is an indemnity based policy. In benefit policies the claim is not based on the actual charges incurred during the treatment but in case of indemnity policy the claim amount depends on the actual expenses incurred up to the sum insured.

Author: Jyoti Garg