Group Health Insurance
The offered plans are provided by employers to take care of the medical and surgical expenses of the employee and their family members. Usually, these plans are offered by health service providers who have a wide network of healthcare centers all over the country and can provide top class treatment for their patients. Some of these plans, also these take care of pre-hospitalization expenses and the charges for rehabilitation after a surgery or a recovery from an illness. In comparison to individual health plans, these plans are provided at cheaper rates and ensure a healthy future for the insurance buyer and their loved ones.
Key Benefits of Group Health Plan:
- Lower Premiums
Usually, group health plans are provided by employers to their employees and their loved ones. These employers provide an insurance to several people at a time and hence the insurance companies offer them insurance plans at cheaper prices. This means the insured will not only have to pay a premium lesser than an individual plan and but also, they will receive a coverage for the whole family. it helps them to save a lot on medical and surgical expenses that might affect their budget otherwise.
- Flexible Plans
These plans are known for their flexibility and they can be tailored easily as per the specific requirements of interested buyers. This means if you are a buying a group health plan, you get the desired coverage and benefits in your plan. If you are suffering from a serious illness, you can ask the provider to include a cover for the specific disease. Also, the coverage is provided to family and each member of the family and if you want a specific cover for anyone else in the family, you can get a cover for them as well.
- Family Benefits
As this is a family floater plan, all the members of the family qualify for the same coverage from the plan. For example, if you have bought a plan with a cover of $150,000 this cover is for everyone in the family. This means if anyone in the family falls ill or meets an accident, they can utilize the whole coverage amount $150,000 for their treatment if needed. Also, there is flexibility to utilize the cover for each family member as per the requirements.
- Cashless Treatment
This is a unique feature offered in a group insurance plan that proves very helpful in emergency conditions. At times, the insured or their family members fall ill or get injured and they don’t have enough time to arrange the cash, this feature proves crucial to save the life of the insured or their loved one. With this feature, the insured can immediately get admitted to a hospital without paying anything in cash and the treatment can be initiated as soon as possible.
Additional Coverages:
Along with their key benefits, group plans are known for additional coverage for the insured and their loved ones. Below, we are mentioning a few of them:
- Pre Existing Disease
People with pre-existing conditions are considered to be more vulnerable and hence are offered a comparatively more expensive plan. But group insurance plans don’t differentiate between their buyers and the people suffering from a serious disease can also get a cover for the same price. This means they can receive the expensive treatment of their disease at the same price and they won’t have to worry about the same. Usually, these treatments are very expensive and having a group health plan save a lot on the same.
- Maternity Cover
Group plans are known for taking additional care of the insured and maternity cover a fine example of the same. Under their maternity cover, they provide a cover for visits to the doctor during the pregnancy, prenatal diagnosis, medicines and delivery related surgeries. This helps to save a lot of money for the insured’s family and they won’t have to worry about the same. Some plans also provide a cover for some necessary care of the newborn baby.
