Employee's insurance

Hello All,

Can anybody provide me the differences between -
a) Employee's Health Insurance
b) Mediclaim
c) Group Insurance.

and In these days which type of insurance will be good for
an IT company and why ?

plz seniors help me in this field.

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Sharing what is Shared with me

Whatever Happens, Life Must Go on

Thanks, but i need exact difference between them. bcoz my company is looking for good insurance plan.

plz suggest me ......

Hi Madhu,

When it comes Employee Health insurance : It is treated as a Concept which may include Cash less cards, Cashless treatment at recognised Hopital & Mediclaims etc.

Whereas Group insurance is a specific term in Life insurance. Here a group (at least 25 in general cases) gets life insurance and this (premium payment) is generally by Employer or Employer & employee . This deals with death Benifit generally.

Medicalim is a Non-life Insurance term which generaly come into General insurance and benifits the Person/employee in sickness,surgery,accident etc. for this minimum 24 hours Hospitalisation is required if using cashless cards.This is general trend which i have communicated to you. Specific information could be conveyed by Insurance specialist.


Regards,
Tikam S Shekhawat

Thanks a lot

Hi Madhu,

1.Employee's Health Insurance is related to ESI for Industrial Workers.

2. Mediclaim: covers the reimbursement of Hospitalization/Domicellary Hospitalization expenses for illness/ diseases or injury sustained.This can be given by the Employers as Individual(covering only the Employee) or Group( covering employee as well as dependents of the employee).

3. Group Insurance is the Life Insurance covering Employee along with his/her dependants.

Regards,
RAchna Sinha

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Rachna Sinha
Hyderabad

Thanks Rachna.

plz suggest me also that for an IT company which type of insurance will be beneficiary at employer's end.

Dear Madhu,

I think IT companies employees are more concern on Income tax benefits and extra income from there insurance plans, that's why you should get a insurance plan as per your employees needs,

1] Private insurance companies having a lot of health insurance plan like mediclaim or cash less treatments plans etc. but their premiums is more higher with a lot of other facilities.

2]Govt insurance companies give us low premium with lot of risk coverage

Here i will give a suggestion which is implemented in my company i.e.

we have taken a insurance plan for accident benefits with mediclaim insurance cover

1] we have taken rist coverage for accident benefits with medical expanses, temp. disablement benefit under personal accident policy for that we calculate 52 times of basic of an employee for sum assurance that is enough for any employee getting more than 4.5 lac coverage
2] with above we give mediclaim coverage of upto 1 lac to all family members of employees
3] regarding mediclaim we paid premium from our employee pockets it is help ful to employees for getting income tax deductions.

You can taken above points in consideration with your accounts head and draw a comprison chart with all insurance companies and then go for your own.

ok

regards,

Mahesh