Key Features to consider for employee's medical insurance for your company

With the outbreak of COVID-19 and the government making it mandatory for the employers to provide medical insurance to their employees, a lot of organizations are ensuring to provide the same for their employees.


While deciding on medical insurance for the employees, an employer should consider certain features. The following are some key pointers to keep in mind:


1. The sum insured restore benefit: While choosing the medical insurance plan, an employer should take into consideration whether or not it has the restore feature.

This feature helps when a customer’s sum insured is exhausted towards the treatment of a particular illness. In such cases, if one has chosen the correct plan, then the health insurer that has provided the insurance policy will restore the Sum insured.


2. Pre-existing illness covering: Health insurance companies usually have a waiting period of 2-4 years in case a person is already suffering from an illness.

They are not liable to generate any claim during this period as the person's illness was there before he purchased the policy. Therefore, whenever you consider the plans, opt for the one with longer pre-existing illness covering and a shorter waiting period.


3. Pre & Post Hospitalization Expenses: As per the insurance plan, the number of days for pre and post hospitalization differs.
The better medical insurance plan will give you the maximum number of days for both; pre & post hospitalization and help you save money as well.


4. No Claim Bonus: It is the benefit that is provided when one doesn't claim against any illness to the insurance company. In such cases, go for the health insurance companies that add your no claim bonuses.


5. Network hospitals: It's advised to choose a medical insurance plan having a large number of network hospitals for convenience.
Network hospitals are those hospitals where no bills are to be paid for any treatment, no filling needs to be done for any reimbursement and the treatment charges are settled directly between the insurer and the hospital.


6. Exclusions: Pay keen attention to the exclusions.
While choosing any health insurance plan, read the exclusion very carefully along with the terms and conditions. Go for that insurance plan where the number of exclusions is the least.

 Looking for health insurance for your employees? Advantage Club has a lot of broker partners through which you can get competitive quotes and easy fulfilment. Reach out to us at support@advantageclub.in or call our customer care at 08882-870-870 for further details. Read more about us at advantageclub.in .

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