Employers use various techniques to lure employees to their company. They offer them insurances, promising salary packages, and a conducive environment for work experience. Employees are often offered group medical insurance. However, to what extent is the employee health insurance substantial? We should not forget the fact that health insurance is one of the perks that a company offers to their employees, to retain them in the company, to ensure a safe work environment for them, etc. 🔝

There are no legal obligations binding the company to offer medical  insurances. Employers might offer basic level health insurances to reduce the cost. They usually offer group medical  insurances that cover only the bare minimum, which might not be sufficient for the employers. Employers offer group health care insurance that have complicated procedures, covering insufficient necessities of the employees, including copay clauses to make it cost-effective. This will increase the burden on the employees. The clauses such as the co-pay clauses, room rent clauses will prove to be an extra burden on the employers, where they would have to pay extra, if they make any utilizations beyond the terms specified in the group health agreement clause.💯

Apart from the clauses mentioned in the group medical care insurance agreement, there are various aspects  where the group medical care insurance agreement will not be substantial. They will be requiring additional coverage, apart from the medical care insurance agreement, that the company offers. The employees should be provided other facilities and accessories apart from the group medical insurance agreement, such as:

Holistic & Suitable Health Care :

The employees should be offered a holistic healthcare facility. The medical health care insurance should cover accessories that will not cost them extra. The insurance should include easy diagnostic solutions,OPD, annual health checkups, etc. The group medical health care insurances often cover only the basic hospitalisation fees, and will be applicable only for medical emergencies. However, this facility will not be sufficient. Hence, the employees must be provided with medical insurance that will cover their medical fees for doctor consultation, buying medicines, etc. ✔

Sufficient Insurance Awareness & Knowledge :

This is a very important and the commonly ignored aspect. Most of the employees do not have sufficient knowledge in insurance and there are high chances of getting manipulated and misinterpreted for the benefits of the insurer or the company. Also, insufficient knowledge about the insurance leads to high chances of not knowing how to use the insurance. This will have an adverse effect on the employees like, improper choice of medical treatment, mistakes in enrollment leading to loss of coverage of the treatment, incorrect policy interpretations that will lead to rejection of claims. Hence, proper knowledge about the working & modus operandi of the insurance plays a vital role. 💡

More Tech-Friendly Method Of Claiming The Insurance :

Over the past 20 years, the world has seen a huge scale of digitalization. The employees will be expecting a more tech-friendly approach that will reduce their time in claiming the group medical health insurance policy through customer care,rather than  waiting for hours in the bank to discuss the agreement, wasting their time and energy in following the traditional method of claiming insurance policies. Going through the formalities and procedures in claiming the group medical health care insurance offered by the company will be a tedious process, which can rather be done online. The payment processes should also ensure that they have an online option, as it might be an extra burden for the employees who cannot pay immediately through cash.  💰

Insurance That Allows Customization & Meets The Requirement Of Employees:

The insurance plan should be flexible depending on the requirements of the employees, when they are offered with the group medical healthcare insurance. The age of the employees will generally decide their specifications for the insurance plan. Elderly people might require frequent visits to the hospital, diagnosis and check-ups. Young employees will be requiring maternal and newborn care coverage. A common group plan with basic accessories might not meet their requirements. Therefore, the group medical health care insurance should be customizable as per the requirements of the employees. 💭

Employers should always look for the group medical healthcare plans that will bridge the gap between the employees’ needs and the company’s expenses. The employees will be needing extra coverages apart from the usual group healthcare benefits due to the following reasons: 📃

• The status of the employment of an employee is one of the important factors in determining the uncertainty in the benefits they will be receiving. The group medical health care will protect the employee, as long as the employee works in the company. Once the employment is terminated, the employee can no longer enjoy the benefits of the group medical health care cover.
• As stated before, the medical health care offered to the employees are the extra benefits or perks to retain the employees and attract them to the company. The company has the right to withdraw the insurance, if they want to.
• The group health care cover cannot be used, once you retire from the company. Usually, employees retire after 55 years, which is when they will be needing the health care benefits, the most. Therefore, the group health care cover might not prove to be sufficient.
• The group medical health care might not cover more than 2 members in the family of the employee. In such cases, the employees will have to take additional insurance policies separately for their family members.

The employees should plan for their future according to their needs and wants, and should opt for an additional health care insurance, apart from the group medical insurance  offered by the employers for their happy and comfortable well being. 🖊