Dear Seniors,
We are going to introduce the health insurance policy as a tool for employee benefits. I wanted to know some insights from you on this. Should we make it compulsory for all employees, or should it be kept optional? If possible, please share your company's policy on employee health insurance.
Your urgent assistance is requested. Please help and share your information on this with me.
Thank you,
Parul
From India, Bangalore
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We are going to introduce the health insurance policy as a tool for employee benefits. I wanted to know some insights from you on this. Should we make it compulsory for all employees, or should it be kept optional? If possible, please share your company's policy on employee health insurance.
Your urgent assistance is requested. Please help and share your information on this with me.
Thank you,
Parul
From India, Bangalore
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Hi Parul,
Providing health insurance to all employees is a nice option, but I feel this policy should be applicable to all employees. You can introduce various slabs of premium based on the sum assured. It may be applicable to all employees according to their grade/salary.
Thanks & Regards,
Ruchi
From India, Mumbai
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Providing health insurance to all employees is a nice option, but I feel this policy should be applicable to all employees. You can introduce various slabs of premium based on the sum assured. It may be applicable to all employees according to their grade/salary.
Thanks & Regards,
Ruchi
From India, Mumbai
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Yes, I think it's a good idea to introduce health insurance for all the employees in your organization. Here in the UAE, it's compulsory that all employees should be covered by health insurance, as it has lots of benefits.
From India, Calicut
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13From India, Calicut
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Are you from any insurance company? I have already received quotes from different insurance companies. What I want to know next is how to implement it. I am confused - should this benefit be made compulsory for all or be optional.
From India, Bangalore
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From India, Bangalore
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Are you from any insurance company? I have already received quotes from different insurance companies. What I want to know next is how to implement it. I am confused about whether this benefit should be made compulsory for all or be optional.
From India, Bangalore
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From India, Bangalore
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Dear Parul,
It's better to provide health insurance to all employees. You can have different sum insured based on Grade or Designation but not on salary since we all want to maintain salary confidentiality. Again fixing slab and offering benefits will vary from organization to organization.
We have Health Insurance policy for all our employees which cover employee plus five dependents (Parents, Spouse and Children) with below benefits;
I hope this helps you.
Have a good day, Lakshmi.
From India, Bangalore
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It's better to provide health insurance to all employees. You can have different sum insured based on Grade or Designation but not on salary since we all want to maintain salary confidentiality. Again fixing slab and offering benefits will vary from organization to organization.
We have Health Insurance policy for all our employees which cover employee plus five dependents (Parents, Spouse and Children) with below benefits;
- Floater policy for (1+5) – Covers Employee+ Spouse + Children +Parents
- Pre and Post hospitalization cover- Relevant medical expenses incurred during period up-to 30 days prior to hospitalization on disease/illness/injury sustained will be considered as part of claim. Relevant medical expenses incurred during period up-to 60 days after the hospitalization on disease/illness/injury sustained will be considered as part of claim. Pre & Post hospitalization is not payable for Maternity.
- Waiver on 1st year exclusion
- Waiver on 1st 30 days excl - Any disease contracted by the insured person during the first 30 days from the commencement date of the policy is covered
- Maternity benefits upto Rs. 50K - Treatment taken in hospital/nursing home arising from or traceable to pregnancy, childbirth, including caesarian section. The maximum benefit allowable under this clause is up-to Rs 50,000/- or the sum insured opted by the member of the group whichever is lower. These benefits are admissible only if the expenses are incurred in hospital/nursing home as in-patients in India. Claim in respect of delivery for only first two children only. Expenses incurred in connection with voluntary medical termination of pregnancy during the first 12 weeks from the date of conception are not covered.
- Baby cover from day 1
- Room Rent - 1% of sum insured for regular & 1.5% for ICU
I hope this helps you.
Have a good day, Lakshmi.
From India, Bangalore
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Hi,
Yes, I am from the insurance industry. If you have received quotes, it's fine.
From my experience, I find that some companies offer medical insurance to all existing employees (from the date of inception of cover) as well as new employees right from the date of joining and coverage on the same basis across the company. However, some other companies offer cover for employees once they are confirmed employees only, i.e., cover is not provided for employees on probation. Yet, some companies provide coverage for all employees from the date of joining, but the sum insured varies according to the various levels in the organization. In this case, the sum insured may be revised during the renewal of the policy.
I think you can work out the coverage based on the budgetary provision your company intends to set aside for medical insurance.
Jose
From India, Bangalore
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Yes, I am from the insurance industry. If you have received quotes, it's fine.
From my experience, I find that some companies offer medical insurance to all existing employees (from the date of inception of cover) as well as new employees right from the date of joining and coverage on the same basis across the company. However, some other companies offer cover for employees once they are confirmed employees only, i.e., cover is not provided for employees on probation. Yet, some companies provide coverage for all employees from the date of joining, but the sum insured varies according to the various levels in the organization. In this case, the sum insured may be revised during the renewal of the policy.
I think you can work out the coverage based on the budgetary provision your company intends to set aside for medical insurance.
Jose
From India, Bangalore
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Kerala HC- employee entitled to higher amt if recd from insurance co 18092017.pdf