There are many benefits of offering your employees health benefits. We even covered this in other posts. Give them a quick read:
- Can Group Health Insurance Increase Employee Retention?
- 3 Overlooked Benefits of Getting Group Insurance for Employees
But to optimally enjoy those benefits of group health insurance, it’s important that the group plan is tailored to the distinct needs and preferences of the employees – and NOT what the organization “wants” the employees to have.
If you’re planning to buy a group mediclaim insurance policy for employees – or are in the process of renewing the existing one – invest in a plan that your employees want.
To make things simpler, here are three features your employees want in a group insurance policy:
- Coverage for direct family
In addition to being insured themselves, many employees also want their dependent family members under the policy. They want health coverage for their spouse, dependent parents, and dependent children.
This makes sense; who doesn’t love their family and want health benefits for them!
Admittedly, getting coverage for dependents can increase the cost of group health insurance significantly. But given all the benefits the policy brings to the table for the organization in the long-run, in many cases, this increased cost is worth the money.
- Bigger insurance amount
Healthcare is expensive in India. A single visit to a hospital for a checkup or some tests can bring you a huge bill. Even a few days of hospitalization can wreck your bank balance.
This is why employees want a bigger insurance coverage; the amount needs to be sufficient to afford health scare comfortably.
So, understand the healthcare cost in your city or state. Accordingly, decide on the coverage amount. Don’t keep it small.
- Treatment in top hospitals
More people want healthcare treatment at reputed private hospitals that offer superior quality treatments, have good infrastructure, and takes care of a wide range of ailments.
But given these hospitals are also usually expensive, several insurance companies don’t include them in their network of hospitals.
As an employer, you should ensure your employees get access to such top hospitals. Be very sure to check the insurance company’s network of hospitals. Does it have the names of top private hospitals?
Ask Your Employees
These are just three features employees want in a group health insurance plan. Very certainly they would have other preferences and demands as well.
So, it’s a good idea to ask them from the front about what kind of group plan they want, what features they prefer, and so forth.
If you have a large team, a quick survey can gather up all the relevant data, which will make your decision much simpler.
This is a very simple and effective approach.
Of course, there are only so many employees’ demands you can agree with and act upon. You can’t really fulfill their extravagant health insurance demands. And that’s something the management at the organization will have to figure out; they need to strike a balance between their budget and employees’ demand.
In the end, as mentioned earlier, invest in group health policy that your employees want – and not what you want them to have.