Every organisation has a diverse workforce with diverse backgrounds and healthcare needs. In such a situation, customising a group health insurance policy according to employee medical needs is crucial.
The article will explore various reasons why employers opt for customised group health insurance and how to navigate the steps for personalising it.
What is the Need for a Customized Group Health Insurance Policy?
Different Medical Needs
Every employee in an organisation has different medical needs based on their age, medical history, lifestyle and family status.
Thus, it becomes crucial to customise the group health insurance policy as per their medical requirements for maximum coverage.
Improved Employee Satisfaction
When employers buy business insurance online for their employees’ health protection, it creates a sense of loyalty and respect among employees. This means they remain satisfied with their employer and organisation, resulting in enhanced productivity.
Cost Effectiveness
Cost-effectiveness is another benefit of customising a group health insurance policy. When employers purchase a policy tailored to individual employees, they optimise healthcare costs for targeted coverage rather than spending on underutilised coverage.
Flexibility
When employers choose to customise a group health insurance policy, they provide employees with the flexibility to obtain insurance tailored to their individual medical needs. It gives employees autonomy in making their healthcare choices.
Attracts New Talent
One of the most important reasons to offer customised group health insurance policies is to attract new talent. When a business creates its positive brand image through such initiatives, it attracts more talent, investors and positive public opinion.
Promotes Wellness
It is well known that health is wealth. With a customised group health insurance policy, employees receive benefits such as preventive check-ups. Through these steps, employees become proactive in managing their health, which ultimately leads to fewer claims and lower medical expenses.
How to Customise a Group Health Insurance Policy?
Varied Coverage Options
The first way to customise the group health insurance policy for employees is by providing them with various coverage options. This includes options for deductibles, premiums, and add-on covers, which employees can select according to their specific needs.
Family Coverage
Another way to customise a group health insurance policy is by providing family coverage in employee insurance. This means that, along with employees, their dependent family members, such as parents, children, and spouses, also get coverage under the same policy.
Add-on Covers
Employers can also offer employees the option to select group insurance add-on covers tailored to their individual needs. Several insurers offer add-on covers, such as TATA AIG, which include pre- and postnatal care and newborn cover. Moreover, they make getting insured easier with the option to buy business insurance online.
Network Hospital
Another way to customise the group health insurance policy for employees is by partnering with a wide number of network hospitals, clinics, and healthcare professionals. This way, employees will have a wide range of options to choose from when faced with any medical requirement.
Customised Copayments and Deductibles
Employers can also customise employee health insurance by offering employees the option to choose their level of coverage and deductibles. This enables employees to accurately calculate their medical expenses and maintain a sufficient balance for emergencies.
Preventive Checkups
By arranging preventive checkups and wellness programs, such as health workshops and vaccination camps, employers can ensure that employees are well-informed about their health concerns. This way, employees can make informed decisions to choose the coverage that best suits them.
Summing Up
Having a group health insurance policy from a reputable provider like TATA AIG is a mandatory requirement for all types of businesses in India. It is required to protect the well-being of their employees.
By customising group insurance policies, employers can enhance coverage and make necessary adjustments according to the needs of their employees. With the strategies provided here, customisation becomes easier for both employers and employees.
