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What Is Corporate Health Insurance And How Does It Work
Corporate health insurance is an insurance plan offered by your employer to cover you against health issues. It is a means of adding value to your employees and ensuring that you are protected from heavy financial burdens in times of emergency.
Corporates buy health insurance from corporate health insurance providers as a group health insurance and offer it to employees. These health insurance are supposed to be utilised by individuals and often cover their loved ones as well.
Related Blog: Corporate Health Insurance: Features, Types and Benefits
How Do I Know If My Company Offers Health Insurance
In India, most companies offer health insurance as a part of the additional value provided by the company. It is also mandated to provide health insurance to employees in India for big corporate offices. However, the kind of coverage provided by the company may differ and hence asking the employer if health insurance is offered and of what kind is very important.
What Are The Benefits Of Having Corporate Health Insurance?
One of the main benefits of corporate health insurance is that the company pays the premium for the insurance, taking away the load of the payment from the individual. Additionally, it also protects the individual in stressful financial situations such as accidents or major health issues.
How Much Will It Cost Me To Enrol In Corporate Health Insurance
In most cases, companies and individuals split the premium for health insurance. Hence there is no direct cost involved and is often deducted from the overall salary of the employee.
What Is The Process Of Enrolling In Corporate Health Insurance?
There is no separate process of enrolling in corporate health insurance for employees as it is offered by companies at the time of offering employment. However, individuals might have to go through a medical test and provide the results to the company to start the process of medical insurance.
Can I still enrol in corporate health insurance if I am already covered by another plan?
Yes, most individuals often have independent health insurance and the health insurance provided by the company is an added benefit. Since corporate health insurance might not insure the employee for a high coverage amount, people may choose to have an independent health insurance policy apart from the one offered by the company.
The Bottom Line
Corporate health insurance is offered by companies and may or may not satisfy the needs of every individual. However, it is a benefit that employees enjoy. Additionally, each company offers different health insurance and that can be known by the human resource team in your company.
Get Insurance Advice from Insurance Expert
Are you looking for corporate health insurance for your employees or for yourself? You have come to the right place. Get in touch with us today to know more and find the right health insurance that fits your requirements. Let our experts help you find the right insurance