Medical Insurance Policy
Is Employer provided Medical insurance Sufficient? Many employers today, offer a group medical insurance cover to their employees, which include the employees’ family members as well. Most of the salaried people think that the corporate group health insurance policy from the employer is sufficient and there is no need to buy another policy by putting in own money. But is the corporate health insurance plan a complete solution? It looks at the employer provided Medical benefits like Health Insurance Policy, Medical Bill Reimbursement, Cost of Hospitalization, Types of Medical Insurance, Tax Benefits on Medical Insurance.
What is Employer Health Insurance Policy? An employer-sponsored health insurance is usually a group insurance, which covers all the employees in the organization. Group health insurance is a medical insurance that covers a group of people, who are usually the members of societies, employees of a common company, or professionals in a common group. Group policies are usually cheaper than individual policies. The logic of group insurance is that all those who are insured are not going to fall sick and are not going to make a claim. But the benefit can go to that one person who falls ill and needs to make a claim.
Usually Employer Group Insurance covers Preexisting Diseases and Maternity benefits upto two children from the day employee joins. Whereas, standalone health policies will have a waiting period of at least two to four years, depending on the insurer.
Employer medical insurance policy in india hospitalization. This policy covers any illness or disease or injury and typically covers which are incurred in India and are within the policy period.
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