Due to the pandemic that exposed everyone around the world to health risks, most employers asked their employees to work from home. With the receding effects and normalization of pandemic guidelines, people have started going to the office again. However, they still carry the fear of health risks in their mind. Also, the health risks aren’t only because of the Covid-19 but also due to reasons like polluted water, undernourishment, etc. Therefore, employers who offer group health insurance to their employees stand a higher chance of regularizing processes as usual.
The economy is also undergoing a tough phase and you would want to save as much money as you can till it revives completely. Health insurance plans not only provide medical protection but also secure your financial interests. As a result, you would like to join a company where you get medical benefits. However, check these things before enrolling in the group health coverage plan offered by your organization:
Sum Insured
Checking the sum insured allotted by your employer to every member of his organization is essential. A higher sum insured ensures all the hospitalization expenses are covered even during treatment of critical or severe medical conditions.
Generally, the employer decides the sum insured as per the city in which their employees reside. It is because the health care expenses vary as per the location.
Room rent limit
The room rent varies from one hospital to another. However, employers fix a certain cap or limit when it comes to covering room rent charges. If you choose a hospital where higher room rent is charged, the extra charges need to be paid by you. Even though it is not possible to avoid the extra room rent in some hospitals, ensure room rent is sufficient enough to accommodate the charges of a private room.
Network hospitals
At network hospitals listed in your group health cover plan, you can get the benefit of cashless treatment. Cashless treatment means that the hospitalization expenses are settled between your employer and the hospital directly. Ensure that the group health insurance extended by your employer has enough network hospitals in your city.
No waiting period
A regular health cover plan forces you to wait for a certain period to become eligible for the health care benefits. The highest advantage of group health cover plans is that the employees get covered from day one. It means that they don’t have to serve a waiting period.
The non-requirement of waiting period proves beneficial for expenses related to an accident, maternity, or other emergency conditions. The employers manage to remove the waiting period by paying a higher premium to the insurance company.
If you find all the above-explained benefits in the group health cover provided by your employer, don’t hesitate before enrolling in it. Normally, the benefits of the group health care policy can also be extended to your wife and kids.
Unmarried employees have the option of including their parents under the group health cover. You can get a separate medical insurance policy for yourself or your family even if you have opted for the group health cover policy. In this case, your primary health cover plan will cover your hospitalization expenses first. If some cases are not covered by the primary health cover plan, your secondary plan will reimburse it.
For example, the group health cover policy acts as a primary health cover plan if your organization has more than 20 employees. Similarly, if the employer does not offer employment to multiple employees, your medicare policy will be the primary health cover plan. You can check the group insurance policies and other types of health cover plans on the website of Bajaj Finserv.
