Top Companies that provide Health Insurance for Employees
With the majority companies and organizations offering some kind of corporate health insurance plan to its employees, a select few really stand out in terms of benefits, medical coverage, and affordability.
Here are the top 5 companies providing the best healthcare benefits:
- HDFC Ergo
- Max Bupa Health Insurance Company
- New India Assurance Health Insurance Company
- SBI Health Insurance Company
- Care Health Insurance
Employer-sponsored health insurance included as an employee benefit has proven to be effective in attracting and retaining talent. Plus, given the evolving healthcare needs of people across the world, it is important that employees have access to decent health insurance coverage at all times.
One of the most renowned of the insurance lot is HDFC Ergo as a reliable health insurance provider. Having been around for several years they have consistently offered the best plans at suitable costs. Following are certain benefits: –
- Wide selection – They offer a wide variety of plans such as family health insurance covers, individual health insurance plans, senior health insurance plans and corporates plans.
- Great customer service – Once a plan is chosen, the customer service support helps out in case of any and all queries at all times. Claims settlement is also quick and efficient.
- Digital presence – When it comes to technology, they are very adaptive. Policies can be conveniently bought and sold via the mobile app or website at any time.
Max Bupa Health Insurance Company
Max Bupa is a household name when it comes to insurance companies. Having as many interesting and useful plans – Here are some quick benefits the company has on offer: –
- Efficient and Professional – One of the main advantages you get is efficient and professional services. The insurance company has remarkably made a mark for itself – starting with the way they sell their plans to handling and settling of queries effectively. Hence one ends up being satisfied as a result of excellent support from the providers and benefits peace of mind as an outcome of the smooth experience.
- Different Types of Plans – If you are looking for a variety of health insurance plans from the same health insurance company, you may gain a lot by exploring the options available from Max Bupa.
New India Assurance Health Insurance Company
Being one of the most trusted and oldest in the health insurance area, one can be rest assured to derive the maximum benefits: –
- Government Pedigree – It could be said that they in a way define the standard of ethics – right from providing due transparency and truthfulness in services that they offer.
- High Claim Record – As they practice ethics to the core, they ensure smooth process flow of claims settlement on a daily basis.
SBI Health Insurance Company
The joint venture between State Bank of India and Insurance Australia Group (IAG) led to the birth of SBI health insurance. Focused on a wide-ranging series of general insurance products both in the retail and commercial sectors at the most economical cost for every individual and the businesses. One of the key highlights is the Claim Ratio of over 50% during financial year 2018-19. They provide the facility of guaranteed renewal and renewal of existing health insurance.
Affordable Premiums and Sum Insured: The SBI General health insurance offers policies in the minimum and maximum Sum Insured range of Rs.50,000 and Rs.500, 000, respectively. The benefit here is that it caters to all the segments of the society and as a result it becomes convenient to choose as per one’s own financial condition.
- Coverage in Every City: The plans have been categorized as follows – Metro Plan, Semi Metro Plan & Rest of India.
- Online Facility: Policy can be purchased or renewed online. The facility to get free quotes while buying policies online is also available.
- Round the Clock Assistance: The highly trained customer support team provides 24*7 claim assistance services.
Care Health Insurance
Care Health Insurance is a one of the most sorted and dedicated Health Insurer providing health insurance facilities to individuals as well as corporate employees in association with Religare Enterprise Limited, Union Bank of India and Corporation Bank. They boast of a very high Incurred Claim Ratio of 93% during FY 2018-19 helping them establish a strong presence in the country.
Affordable and massive Range of Sum Insured: The company provides coverage from Rs.4 Lakhs to Rs.75 Lakhs and also with global coverage plans coverage from Rs.50 Lakhs to Rs.6 Crore.
- Wide Network of Hospitals: One can choose amongst network hospitals for more than 6000.
- Tailormade Plans: The plans are easily customized and modified with affordable premiums and thus, help one to choose and buy accordingly.
- Advantage of Tax Benefit: Employees who are covered under the Employer’s Health Plans do not benefit from tax perspective until and unless employee pays a part of group insurance premiums. In such a case they are eligible to avail tax deduction individually under Section 80D of the Income Tax Act.
How to claim health insurance?
The common process for filing the insurance claim is as under-
- First step is to get in touch with the health insurance provider by dialing the toll-free number
- Insurance company representative assists the employees on the entire claim process and ensures they submit the required original documents
- A claim form is required to be downloaded from the official website
- To fill with accurate details to the best of one’s knowledge in order to avoid rejection of claim
- Once that is done, documents are then attached and sent to the address of the insurance provider
- Note that as proof that the claim has indeed been made you should keep the copy of the claim form and the documents
Corporate health insurance inclusions
- Pre & Post Hospitalization expenses
- Room rent and nursing charges
- Pre-existing diseases covered from day 1
- Consultation fees charged by medical practitioners
- New-born infants are also covered under the policy right from their birth that is the time of delivery
- Maternity cover
- Domiciliary and day-care expenses
- Ambulance charges for transfer of patient
Documents required to make a claim-
Documents as they say play a very crucial role in the acceptance or rejection of a claim. The original copies are required to be submitted at the time of making a claim to the company. If your documentation is perfect, the chances of rejection are very low and the claim is also processed very quickly.
- With the help of a doctor’s signature a duly filled claim form is required
- Medical reports
- Doctor’s prescription
- Final bill with the breakup
- Cash memos, itemized bills
- Discharge summary
- Police report becomes mandatory in all cases of accidents
Summing it up
As we’ve seen, there are several companies in the field offering best possible medical insurance covers as per the needs of the policy seekers. We only need to evaluate whether the terms and conditions meet the requirements accordingly. The plans are an extended benefit provided by the employers to their employees – benefitting both the parties in the process in the form of benefits to the employee and goodwill to the employer.
The employees are immensely satisfied as plans not only cover them but also their family members and regular check-ups are ensured. The employees get to benefit from this satisfaction as they aim to retain their employees converting this whole investment into a solid asset.
Generally, the ones going to be covered under the policy are required to undergo pre-medical tests and based on their reports a suitable plan can be chosen. But at the same time, it depends on company to company and whether a premedical check-up forms part of their basic eligibility requirement for availing policies. It goes without saying that till the time an employee is employed with a particular employer they will be covered by that certain policy. When there is either a job switch with gap in between then during that period the person would be unprotected. Further to this there is no surety whether the outgoing employee will benefit from cover with new employer. In most cases policies do not cover dental treatments unless and until it is necessitated by acute trauma or cancer. The cost of external appliances such as crutches, dentures, contact lenses or hearing aides are excluded.
Is there a compulsory requirement for a medical check-up before taking a health insurance?
What would be the validity of the corporate insurance cover?
What are the general exclusions in the health insurance policy?
Treatments as a result of self-inflicting injuries are also not considered a part of the policy. Cosmetics surgeries or treatments received outside of India are not considered, only when cosmetic surgery becomes necessary in cases like burns or accidental body injury then it is made available to policyholder.
Generally, the ones going to be covered under the policy are required to undergo pre-medical tests and based on their reports a suitable plan can be chosen. But at the same time, it depends on company to company and whether a premedical check-up forms part of their basic eligibility requirement for availing policies.
It goes without saying that till the time an employee is employed with a particular employer they will be covered by that certain policy. When there is either a job switch with gap in between then during that period the person would be unprotected. Further to this there is no surety whether the outgoing employee will benefit from cover with new employer.
In most cases policies do not cover dental treatments unless and until it is necessitated by acute trauma or cancer. The cost of external appliances such as crutches, dentures, contact lenses or hearing aides are excluded.