Group Mediclaim Cover

Group Mediclaim Cover

The Group Mediclaim Cover or the Corporate Medical Insurance Plans cover the healthcare costs of the employees of an organization. It helps the companies to mitigate and identify the risks faced by the employees of the company. The tremendous rise in the healthcare costs of the employees has made it essential for the employees of an organization to cover the medical expenses of his employees. There are two types of claims under Group Mediclam policy that is cashless procedure and reimbursement. In the cashless procedure, you need not pay money for your hospitalization and medical treatment. In the case of reimbursement, you have to inform the insurance company that would reimburse all your medical costs including hospitalization.The group mediclaim policy cover is the hospitalization benefit that both the private and public sector general insurance companies in India offer. Find and compare the best Group Mediclaim Covers at Justaply

Some of the Top Companies Providing Group Mediclaim Cover:

  • Apollo Munich Health Insurance Co. Ltd.
  • Baaja Allianz General Insurance Co. Ltd.
  • IFFCO Tokio General Insurance Ltd.
  • New India Assurance Co. Ltd.

Benefits of Corporate Medical Insurance Plans:

With the rising healthcare costs, the corporate medical insurance plans play a vital role in luring talented employees to an organization.

  • It lowers the attrition rate of employees and unrest in the labour unions.
  • By offering the employees corporate medical insurance policy, it makes them feel wanted and an important member of the organization. This in turn increases the productivity and thus the profit of the organization.
  • By providing medical coverage to the employees, the employees of an organization qualify for tax deduction under the Income Tax Act.

What Does Corporate Medical Insurance Plans Cover?

  • It covers the medical expenses for the insured employees as well as their spouse and children.
  • The mediclaim policy providers cover diseases rising from pre-existing illnesses. For instance, if you were suffering from diabetes at the time of availing the plan but later develop heart disease, then the heart problems would come under the pre-existing illness.
  • At the network hospitals, the corporate medical insurance plans offer cashless hospitalization. In this procedure, when the patient receives treatment in the network hospitals, the insurer settled either the entire or partially the claim with the particular hospital.
  • It also covers the ancillary charges like the ambulance cost.
  • Some of the corporate medical insurance plans offer reimbursement of fees of medical practitioners, specialists etc.

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