With the increasing cost of healthcare and medical facilities, it is essential for everyone to have a health insurance cover. Once considered as an added benefit, health plans have now become a necessity. Without an adequate health insurance cover, it results in financial hardships during medical emergencies. Worrying about money is the last thing you would want at such critical times. This increased need for medical insurance has led to many employers offering their employees with group health insurance plans.
Employees are one of the key resources that an organisation relies on. Thus, it becomes essential for an organisation to offer these added benefits of group health insurance to the employees. A group policy can also be purchased by the holders of the same category of credit card, savings account, or other common association. A group health insurance facility depends on the organisation that you are associated with.
No Waiting period
The primary advantage of a group health insurance is the absence of any waiting duration for the coverage. These plans skip the waiting period requirement mandated in other types of insurance covers. The beneficiaries of such an insurance can avail the coverage right from day one, including any chronic ailments.
Cashless facility
Some group health insurance companies have affiliations to a specified list of hospitals. These tie-ups provide the benefit of availing a cashless facility where the medical bill is directly paid by the insurer. With this, you can benefit by skipping the lengthy and tedious paperwork. All you need to do is present your group health insurance identity card at the time of admission to the hospital. Any treatment that falls within the purview of your policy is directly settled by the insurance company.
Pre as well as post hospitalisation costs
An added advantage of the health insurance, group mediclaim policy for employees is that your pre and post hospitalisation cost, both are included in the policy coverage. This not only includes the hospitalisation expense, but also other additional costs incurred like medical reports, X-rays, etc. Further, post-discharge from the hospital, the cost of medicines can also burn a hole in your pocket which is again covered.
Cover for pre-existing ailments
One of the highlight features of group health insurance includes coverage for pre-existing ailments. You need not worry about denial of coverage in case you suffer from any illnesses. All pre-existing diseases or other health conditions are covered by your group health insurance plan. Some companies also offer coverage for critical ailments, but it is better to know these terms when buying one.
Coverage for dependents
A group policy is not only available for the primary applicant, but also for the dependents of such applicant at a nominal premium. Hence, the benefit of group health insurance plans offered by your employer is available to you as well as your parents, spouse and children.
Pocket-friendly premiums
Group health insurance plans are some of the most affordable insurance covers that you can invest in. When compared to other types of insurance plans, they are pocket-friendly and are an absolute no brainer, especially for first-time insurance buyers. The above-mentioned points are some of the noteworthy features of a group health insurance policy. Make sure to analyse and compare health insurance plans, features for comprehensive coverage.
