Group Health Insurance
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What is group health insurance?
Group health insurance policy is a more extensive Health Insurance Plan that is structured to give all round protection to you and your loved ones against unexpected mishaps and health related issues.
There are a number of pros of buying a group insurance. Since a group means more than one customer, insurance agencies tend to provide lucrative offers on such plans. That is the reason why a group health insurance cost much less than others under the same category.
Why do you need group health insurance?
Group health insurance covers the cost of various healthcare necessities and facilities.
Employees are the building blocks of an organization.
An employee-centric firm is all candidates desire before taking up a job. So it becomes vital for an organisation to adhere to these standards in which having a corporate health insurance helps.
Other than this, it enhances the rate of productivity which therefore increases the profit of the company.
Having a group health insurance for the employees also help in reducing the tax which is always seekable for the employees and the employer.
What group health insurance does and doesn’t cover?
Below are the additional coverage areas whcih are provided by group health insurance:
- A plan of this kind generally covers the medical expenses provides
- coverage to the insured andto the members of the group depending upon the policy of the company.
- Some will cover maternity expenses, pre-existing diseases,, and much more.
- Some other additional charges that may occur are also taken care of such as Anaesthesia, Operation Theatre charges, Oxygen, Blood,Surgical Appliances, Medicines & Drugs, Diagnostic Materials, Radiotherapy, X-ray, Dialysis,Chemotherapy, prosthesis/internal implants, Cost of Pacemaker, and any medical costs that come under part of the operation.
- In this, Pre-hospitalization charges are also covered. It provides coverage for the charges that occur 30 days prior to the hospitalization.
- Post Hospitalization- Like pre-hospitalization, It also covers the costs that occur post hospitalization. The insurance agency will take care of the expenses that occur 60 days after the discharge date.
- Day Care Expenses – Day care might be taken care of by the insurance agency for more advanced technological surgeries which could be completed within 24 hours of hospitalization.
- Domiciliary Hospitalisation- Coverage for the costs towards Domiciliary Hospitalisation which is entitled to 20% of the Basic Sum Insured is also provided.
- Cashless facility within network hospitals is provided
- Hidden charges like ambulance costs are also covered.
- Certain plans include free reimbursement and follow checkup facility.
There are a few things that a group health insurance policy does not cover.Those are:
- Any disease or injury that is the related condition(s) for which you have been diagnosed, got medical treatment, had signs and/or symptoms, before the inception of your first policy.
- Any illness/ailment that occurs in the first 30 days of the insurance policy and related expenses for admission, administration, discharge, registration, service expenses/surcharges, documentation, and filing.
- Non-allopathic treatment costs abortion, miscarriage, or complications or treatment arising from or traceable to pregnancy childbirth and caesarian section as well.
- Congenital diseases, All expenses related to AIDS and related diseases. Ailments / Complications arising out of use/abuse of intoxicating drugs or alcohol.
- For more details regarding full list of exclusions, please refer to the policy document.
Documents required to apply for insurance
- After you select your suitable policy, These are the documents you will be requiring to move further in the process:
- Age proof – Any one of Birth Certificate, 10th or 12th mark sheet, Passport, Voter ID, Driving License, etc
- Identity proof- Passport, Voter ID, Driving License, PAN Card, Aadhar Card, which supports one’s citizenship.
- Address proof – Ration Card, Electricity Bill, Telephone Bill, Passport, on which permanent address is clearly mentioned.
- Certain plans require a recent medical check-up report usually in the case of elder people above the age of 45 years to ensure that the candidate does not suffer from any chronic illness.
Passport Size Photo to have a record of the candidate’s identity for future references.
- Some plans require a medical check-up mainly for elder people above the age of 45 years to ensure that they do not suffer from any chronic illness.
Why choose FinBucket for your insurance?
At FinBucket, we offer you unbiased advice to take care of your health-related needs. FinBucket works according to the norms for accurate and dependable group health insurance comparison With the free quotes provided, compare different Group Insurance plans at zero cost on FinBucket.
Tie-ups with highly reputed leading brands in India.
Buy Group health insurance within minutes by filling up the online form. Most of the plans are available online and you can get your policy instantly by making an online payment.