Dear HR Seniors,
Does anyone in your company has provided Group Medical Insurance? If yes, pls share details like how you give this benefit? Do you deduct from employee's gross or company pays premium amount? What kind of challenges have you faced in implementing this? I know in group medical insurance staff dont get a tax benefit, so what can we do to provide benefit as well as tax benefit.
My situation - Our HQ has approved this benefit but they want to pay only 80% of premium and the rest 20% to be deducted from staff's payroll. Some of them are not happy with this as its a deduction from their gross without any tax benefit! What can i do to minimize the loss?
What kind of setup do you have in your respective companies? Pls share and advise.
Regards,
Vineeta
Does anyone in your company has provided Group Medical Insurance? If yes, pls share details like how you give this benefit? Do you deduct from employee's gross or company pays premium amount? What kind of challenges have you faced in implementing this? I know in group medical insurance staff dont get a tax benefit, so what can we do to provide benefit as well as tax benefit.
My situation - Our HQ has approved this benefit but they want to pay only 80% of premium and the rest 20% to be deducted from staff's payroll. Some of them are not happy with this as its a deduction from their gross without any tax benefit! What can i do to minimize the loss?
What kind of setup do you have in your respective companies? Pls share and advise.
Regards,
Vineeta