Group health insurance is a type of health insurance policy that covers a group of people, typically employees of a company, members of a union or association, or members of a professional organisation. Here are some benefits and features of group health insurance:
Cost-effective:
Group health insurance is generally less expensive than individual health insurance policies. The cost of the policy is shared by the employer or organisation and the employees or members, making it more affordable for everyone.
Comprehensive coverage:
Group health insurance plans offer comprehensive coverage, including hospitalisation, surgeries, diagnostic tests, and other medical expenses. Many plans also offer coverage for pre-existing conditions, maternity expenses, and dental and vision care.
No medical check-ups required:
Group health insurance plans do not require medical check-ups for enrollment, making it easier for employees or members to get coverage. This is particularly beneficial for those with pre-existing conditions who may find it difficult to get individual health insurance.
Tax benefits:
Employers who offer aditya birla group health insurance to their employees are eligible for tax deductions on the premium paid for the policy. Employees who contribute towards the premium can also avail of tax benefits under Section 80D of the Income Tax Act.
Customisable:
Group health insurance plans can be customized according to the needs of the group. Employers or organisations can choose the coverage amount, deductibles, and other features of the policy to suit the needs of their employees or members.
Employer branding:
Offering group health insurance to employees can enhance an employer's brand and reputation. It shows that the employer cares about the health and well-being of its employees, which can improve employee morale and retention.
In conclusion, group health insurance is a cost-effective and comprehensive way to provide health insurance coverage to a group of people. It offers several benefits, including no medical check-ups required, tax benefits, and customizability. Employers and organisations can enhance their brand and reputation by offering group health insurance to their employees or members, which can improve employee morale and retention.
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