Group Health Insurance is a type of plan that provides insurance coverage to a group of members, usually a group of employees of a company or members of an organization. These plans are usually offered by banks, business groups, organisations, employers to their employees, housing societies etc., and the amount of premium is borne by the organisation itself.

Key Benefits of Health Insurance Plans

A group health insurance plan usually covers you for the following:

• In-patient hospitalisation expenses
• Pre-hospitalisation and post-hospitalisation expenses
• Daycare procedures
• Chronic illnesses like arthritis, diabetes, etc.
• Cover for pre-existing diseases
• Option to include spouse or kids, etc.
• Emergency ambulance expenses
• Cashless hospitalisation benefit at network hospitals
• Some insurers also cover maternity expenses
• No requirement of medical screening

Why is Group Health Insurance Required?

These days organizations are becoming more employee-centric than before and hence they offer health insurance plans to its employees. Some of the reasons why group health insurance plans are required and beneficial for both employers and employees are:

• Wide Coverage and Better Benefits: Most of the group health insurance plans provide wide coverage and elaborated benefits to the policyholders.
• Option to Get Customized Cover: The health insurance policies for groups and corporate give the option to customize coverage. For example, an employer can take a plan that provides maternity cover or OPD coverage.
• Affordable Premiums: Comparing individual health insurance plans with group health insurance in terms of premiums shows groups health plan as affordable. This is because the premiums that one has to pay in respect of coverage that one gets are always higher in group health plans.