Hi Seniors,
Kindly advise, if in any particular Factory ESIC is not applicable, it is legal for the factory to provide group insurance to its employees.
please clarify, if anu under what law.
Thank You
Regards
Smita
From India, Gurgaon
12Kindly advise, if in any particular Factory ESIC is not applicable, it is legal for the factory to provide group insurance to its employees.
please clarify, if anu under what law.
Thank You
Regards
Smita
From India, Gurgaon
can we change the Group health insurance policy company without disclosing the previous Group health insurance policy for the company?
From India, Pune
From India, Pune
I need little more clarity on Anony..'s query.
1. Whag you wanted to know switching one Co. to the some other Co. ( Which I presume that your Co had obained the existing Group Ins.policy taken from a Co. 'A' and for the next year from some other Co. 'B'. Am I correct. ?
= Yes, by all means you are free to do. But before doing so you should know atleast two consequences i.e.
i) I think when you do so, you'll have a disadvantage that's as you are commencing this GIP from Co' B' you start as fresher and for some of the medical benefits your staff will be eligible only after 2nd yr. or 3rd yr. only. Whereas if you continue with Co. 'A' your staff will be eligible after the initial 1st year itself.
ii) There is a provision for 'No claim bonus' if some of the insured staff did not claim any insurance benefit as a result, the insurance premium for renewal of existing policy for the next year will be comparatively less by applying the 'No claim bonus'.
Therefore before switching over to a new insurance provider you should weigh the advantages & disadvantages and decide.
And above all you should consider "cash free hospitalisation" option which is the most desirable feature for any group insurance for 'mediclaim' policy (health insurance) so that cost of treatment is taken care of and therefore no burden on either employer or employees.
From India, Bangalore
1. Whag you wanted to know switching one Co. to the some other Co. ( Which I presume that your Co had obained the existing Group Ins.policy taken from a Co. 'A' and for the next year from some other Co. 'B'. Am I correct. ?
= Yes, by all means you are free to do. But before doing so you should know atleast two consequences i.e.
i) I think when you do so, you'll have a disadvantage that's as you are commencing this GIP from Co' B' you start as fresher and for some of the medical benefits your staff will be eligible only after 2nd yr. or 3rd yr. only. Whereas if you continue with Co. 'A' your staff will be eligible after the initial 1st year itself.
ii) There is a provision for 'No claim bonus' if some of the insured staff did not claim any insurance benefit as a result, the insurance premium for renewal of existing policy for the next year will be comparatively less by applying the 'No claim bonus'.
Therefore before switching over to a new insurance provider you should weigh the advantages & disadvantages and decide.
And above all you should consider "cash free hospitalisation" option which is the most desirable feature for any group insurance for 'mediclaim' policy (health insurance) so that cost of treatment is taken care of and therefore no burden on either employer or employees.
From India, Bangalore
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MEDICLAIM MADE EASY.doc