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Why Employers focusing on all-inclusive group health insurance post pandemic
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Why are employers focusing on an all-inclusive group health insurance post-pandemic?

Over the past one and half years, the lethal COVID-19 pandemic has disrupted everything. This pandemic has introduced work-from-home options for people to continue their work and improve efficiency even in this tough time. People are trying to get accustomed to this normal and manage their calendars, but their health has taken a hit. This is because remote working has many limitations and boundaries. As a result, people find difficulties in collaborating and maintaining positive relationships with their associates. Moreover, the ambiguity, fear, and worry over the loved one’s health condition have augmented mental stress.

As a result, job contentment, employee engagement, and productivity are also waning off gradually. Now, the experts believe that organizations should recognize the need for a robust employee benefits program based on flexibility, mental health, and engagement.

These days, many organizations are launching new employee benefits programs or escalating the existing ones. Now, organizations are stretching more on offering all-inclusive group health insurance plans, wellness assistance, and mental health support.

Why is group insurance playing a cardinal role in post-pandemic situations?

Before the COVID-19, every organization used to arrange social activities like birthday celebrations, nap pods, team retreats, free lunch, etc., to make their employees contented and productive. Though many of these seem inappropriate today, still, people-first organizations are trying wholeheartedly to reset employee experience. That’s why many human resource managers are embracing their employees with fruitful and extensive health insurance benefits. These insurance policies will offer coverage for their health and take care of their family members’ health. This will make them feel valued and esteemed.

The employees will engage with their organization in a better way if they are well-connected with their employers. With the work from home option, employees often feel disconnected and secluded. A methodically crafted corporate health plan will inculcate the feeling of financial security and safety among employees. To enhance employees’ motivation and productivity, this in-built group insurance plan plays an imperative role. These health insurance plans also inspire employees to achieve their goals in the organization.

What is offered under all-inclusive group health insurance policies? 

Employees prefer those companies that prioritize their wellness and safety. That’s why employers are now offering beyond health insurance. They are welcoming employees with group health insurance for employees that offer both insurance and wellness benefits. In this digitalized era, various health insurance policies are allowing employees to book lab tests, order medications, consult a doctor online, participate in fitness challenges, raise and track claims, and many more through the apps of medical employers.

With all-inclusive health insurance policies, the employees can work peacefully as they know that their healthcare expenditures are taken care of. In addition, healthier employees are more prolific, engaged, and attentive. All these are imperative if you want to enhance the profit of your company.

Is all-inclusive employee health insurance mandatory in India?

After the COVID-19 pandemic and lockdowns in 2020, it has been mandatory for medical insurance for employees in India. Take a look at some of the points of group health insurance policy.

  • When you purchase a health insurance policy for yourself, then it is called Individual Health Insurance.
  • When you purchase a health policy for your family, it is called a Family Health Cover.
  • When insurance is purchased for you and others in a group, then it is known as group health insurance
  • When an employer purchases an insurance plan for all employees, then it is called Group Insurance for employees.


Know about the basic coverage

An employee can enjoy the benefits of the employee group health insurance policy as the employer pays the policy premiums on behalf of their employees. In addition, this policy plan compensates for the costs of hospitalization of the employee along with his/her family members in certain cases.

  • Before 2020, an employee group health insurance policy was not compulsory. But after this COVID-19 pandemic, the authorities have launched new regulations in this context.
  • On April 1, 202), the IRDAI has issued a circular, and it is mentioned that medical insurance for employees should be mandatory.
  • The IRDA issued this circular to health insurers to implement directives of the Ministry of Home Affairs.
  • The IRDA also instructed non-life insurers to come up with inclusive, budget-friendly, and simple-worded policies.


Advantages of all-inclusive group health insurance for employees

Nowadays, companies are offering health insurance for 2 employees or even more for the betterment and safety of their employees. Here are some benefits that an employee can expect from an employer-offered health insurance policy.

Free Health Insurance

To avail of the benefits of this insurance plan, employees don’t need to pay anything from their pockets. The employer is responsible for paying off the premiums. Such an insurance plan also offers cover for your family members. With this employee group health insurance coverage, you are receiving a plethora of healthcare advantages even in this medical inflation.

Top-Notch Coverage

Though employee group health insurance coverage is free of cost to employees, it offers high-quality coverage. A general employee health policy comes with the following features:

  • Cover for hospitalization expenses
  • No waiting period
  • COVID-19 coverage
  • Out-patient Treatment (OPD) coverage
  • Free online consultations with doctors
  • Facility to book various lab tests


Preventive Health Care Benefits

With an employee group health insurance policy, you can track and monitor your progress and achieve your fitness goals. You may also get rewarded for attaining weekly/daily fitness goals. 

Every government and private organization offers employee group health insurance plans to ensure the safety and security of their employees. Though earlier employee group health insurance was not mandatory in India, with this ongoing COVID-19 pandemic, the Indian government started taking intriguing initiatives to ensure that all Indians must have some sort of health insurance policy. With this audacious step, the government is hoping that every organization will take care of the working population by covering them under this employee all-inclusive health insurance plan.

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