group health insurance plans perks

Group Health Insurance Explained for Better Employee Healthcare

As an owner/founder of a startup or SME, you are required by law to provide employee healthcare benefits to your team. Most medium and large companies take advantage of group health insurance plans. But what are they? Here’s a look at group health insurance explained.   

As a small business, you too can take advantage of group health insurance for startups and MSMEs your employees. Alternatively, you can go beyond these plans, and offer other employee health benefits like teleconsultations, discounted medicines health check-ups, etc.  

Getting such a plan, with all these value-added benefits gives your employees more ways to take care of their health. In this blog, we have broken down what these plans are, and the benefits they can provide both to employers and their teams. That way, you will know what to look out for, and how Onsurity’s plans help you provide comprehensive care to your team. 

Group Health Insurance Explained 

These plans are, as the name suggests, health insurance plans for a ‘group’ of people. Usually, that group is an organization. Like any other insurance plan, group plans provide coverage for basic health and medical expenses, as well as surgeries and hospitalization. Many large companies prefer group plans for their employees because: 

  • They are cheaper per employee than individual insurance plans 
  • Individual medicals and underwriting might be waived off, therefore all employees mostly get covered 
  • Plans can be customised based on the organization’s needs and finances 
  • Some plans offer a wider range of employee healthcare benefits 

Good quality employee health benefits are vital to attract new employees, as well as retain old ones. The Society for Human Resource Management found that 46 percent of employees said “health insurance was either the deciding factor or a positive influence in choosing their current job.” So, if you want to hire and retain the best talent, you need to invest in quality group health insurance plans. 

 The money put towards healthcare benefits for employees can also be claimed as a tax benefit. That means you aren’t just saving on expenses, but taxes. It’s a good reason to invest in group health insurance plans.  

There is, however, one thing you need to know. To be eligible for such a group plan, your organization has to have a minimum of seven, full-time employees. Usually, group health insurance plans do not extend to part-time, contract or freelance staff. It’s all part of the changes to India’s labour laws, which you can read about in our other blog

Another challenge is that usually, you have to pay the premium amount upfront. That expensive cost can cause problems for your cash flow, especially if you are a small business. That’s why you should consider an Onsurity Plus Membership for your team.  

With Onsurity Plus, you can facilitate their healthcare and provide them the necessary healthcare benefits. Onsurity Plus Membership has been built for SMEs and start-ups. Our wellness membership plans include different healthcare benefits like teleconsultations, online medicine ordering and complimentary group health insurance to members provided by our insurance partner. All that, at an affordable subscription that doesn’t eat into your working capital.  

Group health insurance explained

Group Health Insurance with Onsurity’s Partner 

Here are just some of the reasons 200+ SMEs and start-ups in India have opted for Onsurity: 

Essential CoverageYour plan covers both pre- and post-hospitalization expenses, AYUSH treatments, day-care treatments, in-patient hospitalization and up to 2% of the room rent.  That’s more than most other plans on the market.  

Waiting Period: Accidental hospitalization is covered from day 1, COVID-19 after 15 days and specific illnesses after 30 days. Pre-existing diseases come with a waiting period of 4 years.  

Plan Flexibility: As an organization, your pay for your team, and they have the option of adding their family to the subscription. It’s a healthcare plan that puts your employees needs first.  

Claims and Reimbursements: Through the Onsurity app, you can quickly apply for claims and reimbursements for hospitalization. Our specialised in-house Good Doctor Team is always available to help in case you have any issues.  

Digital Health Services  

We at Onsurity, believe in the power of preventive healthcare, so we built a platform that gives you and your team added benefits. These services are all available with your plan you choose. The Onsurity app comes with access to doctor teleconsultations, so no health scare is too small to ignore. From the comfort of their home, your employees can consult the best doctors in the country, when they need to. 

Our other partners also give you access to digital lab test booking and medical stores. So, your employees can easily have all their medical needs tended to in just a few taps.  

We at Onsurity believe that everyone should have access to quality healthcare that isn’t expensive. That’s why we built a product that gives employers like you a more affordable and practical employee healthcare plan. Our plans are more comprehensive while being economical without compromising on quality. 

To join the digital healthcare revolution, simply head to the Onsurity website and share your company details for our personalised plan variants.