Corporate Health Insurance: Secure Your Team, Strengthen Your Business
Corporate health insurance caters to the health insurance needs of the employees of your organisation. As an employer, you pay the premium for the corporate health insurance policy and decide the coverage benefits and sum insured of the plan. You may also decide to allow certain optional coverages for the employees to choose from. Employees pay an additional premium to avail the optional coverages.
Before the COVID-19 pandemic, offering health insurance to employees was not mandatory. However, some companies provided a basic health plan as a prerequisite of being associated with the company and to retain top talent. Since the COVID-19 pandemic, the world has witnessed how a health issue can have adverse effects on one’s overall life. Taking notice of this, the insurance regulator (IRDAI) has issued a mandate regarding health insurance for employees. As per the mandate, companies that have a workplace with active staff must provide comprehensive health insurance with an adequate sum insured.
Corporate health insurance: What’s in it for employers?
1) Everything digital:
Thanks to digital infrastructure, you are relieved of setting up an admin team to manage claims and onboarding. With easy self-serve enrolment via app, your employees can customise and manage their policies. Plus, they can raise claims via the app from anywhere and anytime.
2) Plans that are not limited to claims:
Corporate health insurance plans cater to all of your workforces and help them lead a healthy lifestyle while fulfilling all the standard health insurance needs.Corporate health insurance plan is a perfect mix of insurance and wellness benefits.
3) Custom plans:
Creating customised health insurance plans as per your choice is possible with corporate health insurance. You can pick and choose coverage while allowing your employees to opt-in for add-ons. Since the employees will bear the cost of additional coverage, you can offer them the freedom to choose these coverages without increasing your quote.
4) Flexible payments:
When you buy corporate health insurance for your employees, you don't have to pay the premium up front. You can opt-in for monthly, quarterly, semi-annual, or annual payment options.