Overview Definition: In group health insurance, capping (or sub‑limits) refers to maximum limits on reimbursements for specific expense heads (e.g., room rent, ICU charges, procedures) within an employee’s annual coverage. Types of Caps: Room Rent Caps: Typically 1–5% of the overall sum insured per day; excess is self‑pay . ICU Charges: Often capped at multiples of the […]
Group Health Insurance Explained
What is group health insurance? Group health insurance is a medical benefit plan offered to a group of people. However, this group can be of employees working in an organization or members of a society or an association. The plan also offers coverage to this group against hospitalization expenses for medical treatment. Medical insurance policy […]
Adding members’ parents to group health plans — concerns and alternatives
Increased life expectancy comes with rising medical expenses. Thus, many young people consider it prudent to buy health insurance cover for their parents. What this does is ensure the best medical care without a major financial burden. So, as an advantage, there is a provision for adding members’ parents in group health insurance plans. Most […]
Five schemes to reduce employee turnover
India’s workplace ecosystem is full of challenges and opportunities. An employer can hire the best people available, but at the same time, risks losing them to competition. Likewise, employees can perform well and move up the rung in the same organization or can leave and join an organization that offers greater scope for growth and […]
How to improve the health of your workforce and reduce their sick leaves?
Employees are entitled to a certain number of sick leaves per year as per the policy of a company. Even though giving sick leaves to an employee in case of any health emergency, normally upsets the work schedule of a company. An organization may require a particular employee to deliver in time; yet, an employee […]
Why group mediclaim insurance is better than medical expense reimbursement
Why group mediclaim insurance is better than medical expense reimbursement In a benefits survey that Towers Watson conducted, 46% of Asian employers felt that their employees gave the greatest importance to the health benefits in their package. So, we can conclude that health benefits are a significant motivation for employees. In India, medical expense reimbursements […]
How group health insurance provide holistic wellness for your employees?
Companies today are offering wellness benefits to their employees that take care of much more than just their physical well-being. It is said, having a happier and healthier workforce is equal to productive and more dedicated employees. After all, employees’ wellness is the foundation of a successful company. You, as an employer, must invest in […]
Group health cover post retirement
For employees, group health insurance offers many benefits. It is often also an incentive to stay with an employer. But what happens when you retire from your job? Does your corporate mediclaim policy continue to cover you? This post attempts to provide some clarity on this question. Insurance options for the retired If you are […]
How is Indemnity defined under Professional Indemnity Insurance?
A person becomes liable for damage to any property or person caused by the services offered by his business. For providing professional service or advice, a person can face claims of negligence or breach. Under professional indemnity insurance ‘Indemnity’ defines as follows: An indemnity includes claims arising due to the losses or the damages made […]
How to Customize a Group Health Insurance Policy?
Customizing a group mediclaim policy means adding more relevant benefits to it to meet your needs and motivate your employees to stay with your company. Read more here.