Employees are the integral part and most treasured asset of any company. A happy employee is always the reason behind the continued success of your organization.
Hence, as an employer you should put an effort to keep them happy and in good health by securing their health under Mediclaim. After all, the second most important thing an employee looks for in a job is the health benefits offered by an employer.
Every employer is aware of the benefits that providing a simple health insurance to one’s employees can reap. But getting a group insurance done for an entire organization is no joke. It has to be affordable and comprehensive in terms of coverage. So these are the things one should consider while buying an employee health insurance to increase employee satisfaction:
- Coverage: Amount and extent of coverage offered by different insurers need to be compared first. Sometimes coverage is limited to some particular conditions or has only minimum coverage. Ensure to enroll for a policy that gives an adequate and best possible coverage. Policy should cover the wide range of ailments which could really benefit your employee in need. It’s not easy to customize as employee health insurance covers all the employees and healthcare need may differ individually. Choose the plans that cover all the major ailments within an affordable price.
- Features: Other than the basic features like hospitalization charges, surgeon fees, ambulance cost and consultation etc some of the policies even cover exclusive features like pre-existing diseases, non-allopathic treatments, maternity benefits and vaccination expenses etc. Consider such exclusive benefits while choosing health insurance for your employees. Compare health insurance policies based on their features as it should fit into your employees’ generic healthcare requirements
- Cashless facility: This is the most important element which ensures hassle-free healthcare services to your employees. Compare health insurance policies based on the range of network hospitals. Choose the policy that has wider coverage of cashless network hospitals. With this your employee can avail a best of healthcare services in the best hospitals without any worry. This provides a quick support in the time of necessity.
- Claim Procedure: Time taken to process the claim matters the most when treatment is availed in the out of cashless network list. Stringent reimbursement process can disappoint your employee. Hence, make a wise choice while buying health insurance policies for your employees keeping in mind the speed of claim settlements to keep them financially worry-free during medical emergencies. Insurer has to provide strong claim support with quicker turnaround time.
- Exclusions: Read the fine prints to know the exclusions of the health insurance policy. For example, some of the policies do not cover ayurvedic and homeopathic treatments. Some do not cover dental surgeries. Ensure to go through the list of exclusions and compare health insurance policies based on these exclusions. Choose to go for the more comprehensive plan for the benefit of your employees.
- Co-pay: Co-pay option will obviously reduce the cost of health insurance policy. With policies having more percentage of co-pay, your employees or you will have to pay more when they use the healthcare services. Ensure to go for policies with lesser out of pocket cost to your employees.
- Cost: Obviously, cost is the important element. Always choose to go for a plan that is suitable to both you and your employees. Opt for the comprehensive plan with maximum coverage at a competitive rate. Plan the employee health insurance budget in consideration with cost to the business. Policy should be cost-effective for both of you.
Lastly, as an employer you cannot provide your employee a health insurance policy which is customized based on their individual healthcare need. However, you can enroll for a well designed group health insurance policy to improve employee satisfaction and retain them effectively for long. Benefits of Group health insurance can be offered to your employees in this competitive world to retain them and build a healthy long-term employer-employee relationship.