A type of health/medical insurance policy that offers support to the employees of a corporation or members of an organization. Often referred to as corporate health care, includes multiple benefits
Group Medical Insurance is the safest way to cover the staff and their families, especially with a rising increase in medical expenses. This is because it protects the costly medical insurance bills suffered by the employee.
Benefits of group medical insurance policy
1. It is useful for those employees who wish to purchase a policy but cannot afford to bear the rate of the premium.
2.. The employee and the employer both are members of the group’s health insurance plan. This means that the employer also receives tax benefits for the offering of those plans to the employees.
3. It starts from the day the employee joins the company. There is no waiting time for any pre-existing illness in this case.
4. Now that medical costs are at their peak, getting a company health care coverage is encouraging employees.