Top 5 Employee Benefits From Health Insurance
Mini Balakrishnan
As we know, health insurance protects an individual from any kind of financial loss or high expenses incurred due to medical emergencies, sickness, or injury. There are health insurance schemes offered by the employers of the working-class people where the insured can get very good benefits for himself and his family.
What Is Group Health Insurance For Employees?
Different types of health insurance schemes are available in India. Among those one is the corporate health insurance policy or group health insurance policy that provides cover for a specific group of people like employees of a particular number of members in an organization. The policy usually covers accidental emergency hospitalization, covid cover, daily in-hospital charges benefits, critical illness cover, maternity cover, etc.
The premium amount for health insurance will be paid by the employer who runs the organization. This is very useful to the people as they can get the health care benefits without taking separate policies themselves. Employee health care insurance is a great help for the people working in an organization to help them with their financial needs and for those who cannot afford to take individual health insurance.
The basic definition of Primary health care is that it ensures people get quality comprehensive health care that includes physical, mental as well as social well-being.
Health care services mainly include
- Doctor care,
- Nursing care,
- Physical care
- Occupational and Speech Therapy, etc.
Top 5 Healthcare Benefits For Employees
Take a look at the top 5 benefits employees derives from health care policies:
1. Exclusive Insurance Benefits For Employees/ Workers
First and foremost as the name implies is the benefit exclusively given to employees who are not able to afford individual health insurance. In this cover, the employees don’t have to pay a single penny from their pockets and they are taken care of by the organization.
2. Quality Medical Treatment
The private insurance companies that offer health coverage to employers in various fields will certainly be having network hospitals that offer quality treatment and it is again a great benefit for the employees.
3. Retention Of Employees
When a superlative treatment is offered to an employee through group health care insurance, the employee will certainly be satisfied and this can be one of the contributing factors to retaining an employee in the same company.
4. Zero Waiting Period
Most healthcare plans require the insured to go through a waiting period before raising a claim. But in employee health insurance, this is not applicable and the insured employee can get the necessary treatments on time and payments will be settled soon without a waiting period.
5. Income Tax Benefits
Employers are eligible for tax benefits and that depends upon the total premium paid for employees according to the Income Tax Act.
What Are Some Common Benefits Of Primary Health Care? Giving health care to a person means so much in their day-to-day life as it includes protection from high medical costs so that you can pay very less from your pockets.
Some most essential benefits include:
- Ambulance services
- Mental health service
- Prescription medicines
- In hospitalization
- Pregnancy/maternity and newborn care services
- Emergency medicine services
- Laboratory care
- Preventive disease services
- Rehabilitative services
- Pediatric services
Employee Health Care Vs Primary Health Care Benefits
All organizations, be they big or small, have a clear understanding that the employees working for them are the most integral part of their growth. They are the core assets that any company might have. Hence ensuring the assets are very crucial to ensure everyone gets proper treatment in their healthcare system too to make sure all do their work in a happy and healthy state both physically and mentally. This is executed by providing employee health insurance to all of the company’s employees.
Though some of the benefits are the same as the common healthcare benefits, employee healthcare benefits are one step ahead and it serves the purpose of taking the healthcare coverage for each employee. A healthier employee creates a healthier work atmosphere thereby increasing productivity.
How The Health Care System In India Works
The healthcare system in India has been kept in a way that its public hospital system is free for all citizens of India, except for some small co-payments in some of the services. The government of India launched a nationally-funded insurance program in 2018 called Ayushman Bharat, mainly to cover small business employees to offer them free treatment at private hospitals as well. Big businesses have to approach private insurance companies for health care insurance policies for their employees.
Even Though the public health care system in India offers free services people tend to take insurance from only the private sector for obvious reasons like inexperienced interns who work only because it is mandatory to stay in rural or remote areas. Experienced doctors refuse to work in the public sector. Altogether the public health care benefits that come for free in India are not as great as per reports hence people are forced to take health care insurance from the private sector to manage their finances while going for medical care.
Conclusion
Employee healthcare insurance or group insurance for employees is a very good way of covering the basic insurance requirements of insured employees. The organization pays the premium and that makes it more convenient for the employees. The employees get standard insurance cover through this and the insurance policy will be active only till they are a part of the respective company or organization.
