A group health insurance plan is a health insurance plan that provides coverage to members of a group that tends to be employees of a company or members of an organization. Members of the group usually receive insurance at a reduced cost because the insurer’s risk is spread across a group of policyholders. Generally, this policy is given by employers to employees.
The advantage of a Group Health Insurance policy is that it can be customised to each specific group depending on what extent (Sum
Insured) and how comprehensive they want the coverage to be. Some organisations look to not only cover their employees, but their dependant family as well.
The policy offers :
Some of the Advantages include:
Some of the limitations are:
The standard coverages under a Group Health policy are below:
Some of exclusions that all the plans under this category have are below; please refer to the respective insurance company websites/policy terms and conditions for the entire list of exclusions:
The process is very similar to the Retail Health insurance claim process, which are :
Group Health insurance is a comprehensive cover that can be bought for large as well as small groups. The premium per lac of sum insured differs from group to group and the factors influencing the discount offered for the GMC policy are: