Group Health Insurance
Group health insurance, also known as corporate health insurance, provides coverage to a defined group of individuals, like employees in a company or members of an organization. This collective insurance policy covers various healthcare expenses, such as pre-hospitalization and post-hospitalization costs, and even includes coverage for pre-existing medical conditions. It offers financial protection and promotes the well-being of insured individuals.
Why Group Health Insurance for Employers?
Following are the benefits of group health insurance plans to employers.
Why Group Health Insurance for Employees?
Here are some key benefits of group health insurance policies to employees.
Key features of Group Health Insurance Policy
Here are some key features of the Group health insurance plan for employees.
Who is eligible to purchase Corporate Group Health Insurance
Insurance providers offer group health insurance plans to businesses with a minimum of 7 employees, which may include dependents. However, there are also options for smaller companies that do not meet this requirement.
For example, consider a small startup named “Tech Innovator” with just four employees. They don’t meet the criteria of a 7-employee minimum for a standard group health insurance policy, but they can still get health insurance. In this scenario, “Tech Innovators” could opt for a small group or “micro group” health insurance plan. This type of plan ensures that even smaller businesses can offer competitive benefits to attract and retain top talent.
These small group plans vary, but they offer flexibility to meet the needs of smaller businesses to help them support their employees’ health and well-being.
How to Claim for Group Health Insurance with Money Marche?
Follow the below-mentioned steps to get a cashless claim under corporate group health insurance with us.
Step 1: Initiate the Claim:
Contact our customer support team through the provided helpline or website. You will need to have your policy details and relevant personal information ready.
Step 2: Choose Network Hospital:
Our customer support team will guide you to our network of hospitals where cashless treatment is available. You can find a list of these hospitals in your policy documents.
Step 3: Present Your Insurance Card:
After reaching the network hospital, show your corporate group insurance card and photo identification to the hospital’s billing department. They will initiate the pre-authorization process.
Step 4: Pre-Authorization Request:
The hospital’s medical team will contact our insurance desk to request pre-authorization for your treatment.
Step 5: Verification and Approval:
We will assess the treatment request and verify your policy details. Once approved, you will receive a confirmation from the hospital to proceed with the cashless treatment.
Step 6: Receive Treatment:
You can now receive the required medical treatment without having to make any upfront payments. We directly settle the medical bills with the hospital.
Step 7: Claim Settlement:
If there were any additional expenses, you can file a reimbursement claim for those costs with us. Provide the required documents, and our claims team will process your reimbursement.
Step 8: Stay Informed:
Throughout the process, stay in touch with our customer support for any queries or concerns. We are committed to making your cashless claim experience hassle-free and efficient.
This insurance policy provides better healthcare coverage for employees and their family members. Here’s how it works:
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You can learn more from our asked questions
Group health insurance is purchased by employers and covers a group of employees, while individual health insurance is purchased by individuals to cover themselves and their families. Group insurance tends to be more cost-effective and offers better coverage.
The ACA is a law that mandates certain requirements for group health insurance, such as offering essential health benefits and coverage for pre-existing conditions. It also includes provisions for employer-shared responsibility and subsidies for lower-income employees.
The cost of group health insurance can fluctuate due to factors like the overall health of the employee pool, inflation, and changes in plan design.
Employers can promote health and wellness through educational programs, on-site clinics, gym memberships, and other initiatives.
Yes, employees can usually add their spouses, children, and dependent parents to their group health insurance coverage.
Under the ACA, insurance providers are prohibited from denying coverage or charging higher premiums based on pre-existing conditions. Employees with such conditions should be eligible for coverage.
