Seeking Advice on Offering Mediclaim Policy: Is It the Right Move for Our Employees?

Dear Seniors,

This is Mohan, working in the MSME industry. Currently, we are providing ESIC benefits to all of our employees, and now we are planning to offer a mediclaim policy as a way to show our appreciation to some employees. I presented this idea to my boss, and he has asked me to proceed with it. However, I have limited knowledge about this mediclaim policy, so I would appreciate your assistance on the following points:

1) Is my decision correct?
2) Is it worthwhile?
3) Whom should I contact regarding this?
4) What is the maturity period for this policy?

Your guidance and support on these questions would be highly valuable to me. Thank you for your help.

Best regards,
Mohan

Yes, your decision is correct. We can provide a mediclaim policy for those who are covered under ESIC or not covered under ESIC. You need to contact a company that provides a mediclaim policy, but you must deposit the ESIC contribution for those employees who are covered under the ESIC Act, 1948. The mediclaim policy will be renewed on a yearly basis.

Thanks,
M Gupta