Businesses are concerned about how well their employees are doing, and it is up to the employer to look out for their health and general well-being. As a result, the most fundamental thing a business can do is support employees’ health.

Employers can offer group health insurance to their employees to ensure they are financially covered against unforeseen circumstances. It not only gives employees financial security but also plays a crucial role in employee retention.

The significance of group health insurance plans will be discussed in this article, along with some crucial factors to consider before providing a group health insurance plan to your employees.

health insurance plan

Benefits of Group Health Insurance Plans

Nowadays, most businesses understand the value of their personnel and take steps to keep dedicated resources  on board. Here are some reasons why it matters to an employer:

Tax Benefits

The premium sum gets deducted from profits and losses as a business expense.  Employers are permitted to claim the entire premium amount and receive a tax benefit if they pay the complete premium on behalf of the employees.

Employee Security

Employees who have health insurance feel more financially secure. Additionally, it enables them to receive the finest medical care for a condition. Hospitalisation coverage is included in the employee health insurance, covering pre- and post-hospitalisation costs. In addition, some insurance plans cover the costs of specialists and other doctors’ fees for follow-up visits.

Motivates the Employees

The focus of many organisations is increasingly shifting from being company-centric to employee-centric. This motivates employees and aids businesses  in keeping a dedicated set of employees. In addition, it allows them to unwind while still increasing productivity.

Things to Consider While Buying Corporate Health Insurance

Organisations should be employee-centric and ensure that you are providing all the health insurance benefits to the employees. Consider the following when acquiring group health insurance plans for your staff:


Coverage is the insurance that the insurer offers based on the age and health conditions of the employees. As an example, some of your employees can be in their 40s who need critical illness insurance. So you can purchase insurance coverage based on your age group.

Claim Settlement Ratio

The ratio of claims settled by the insurer to claims received in a given year is known as the claim settlement ratio. In addition to the claim settlement percentage, you should also see if the insurer’s claim settlement procedure is quick and straightforward so that your workers can work without interruption during difficult times.

Network Benefits

The insurer provides a list of network hospitals when you purchase a health insurance plan. Therefore, it is essential to confirm that the reputable hospitals in your area that offer quality amenities, medical care, and services are included in the insurer’s list of network hospitals.

Legal Implementations

If your company requires insurance, look for all the legal implications. For instance- a factory owner must insure their employees since they work in harsh conditions. In addition, the government encourages new businesses that have sprung up since the pandemic to provide group medical insurance plans for their employees.

Secure the Health of Your Employees!

With changing scenarios worldwide, it is essential to secure the financial requirement of the employees. Additionally, it helps a lot in developing a devoted staff. Sometimes, employees will choose better health benefits over more pay. It raises employee morale and lowers absenteeism at the business.

Choose Niva Bupa Health Insurance if you want a great insurance plan. It is one of India’s top medical and health insurance providers because of its comprehensive health coverage.