Benefits Of An Online Group Health Insurance Plan

Benefits Of An Online Group Health Insurance Plan

Group health insurance policies help to cover a collective set of employees in your organisation. Buying such policies online has several benefits for your organisation. Group policies cover the employees, their parents, and immediate family. The numerous benefits are listed below are your easy reference

Benefits of Online Group Health Insurance Policies

1. Absence of Middlemen and Their Commissions

  • When you purchaseinsurance plans online, you eliminate the services of middlemen and their commissions.
  • There is a one-to-one correspondence between the company providing insurance services and you without the intermediate intervention of middlemen.
  • In this process middlemen, fees and commissions are also excluded. All this results in a cost-effective policy for your company.

2. The Facility of Transaction

  • When you buy insurance online, all you have to do is enter the transaction details on your office computer. An updated quote, details of the policy cover, and all other material details are provided to you.
  • There is no cumbersome waiting process of visiting the insurance company’s office and hammering out the details.
  • The whole process is seamless and smooth with details available in a matter of minutes.

3. Crystal Clear Terms of Insurance

  • Providing a group health insurance policyis laid out in unambiguous terms both for your company and your employees.
  • The terms of coverage, how many people are covered and who is covered, pre-existing medical conditions, inclusions, and exclusions are all laid out in black and white.
  • There is no need for repeated question and answer sessions with the insurance company.

4. Advance Quotes

  • You get the premium and pricing of the policy upfront from the insurance company.
  • You can prepare your employee expense budgets accordingly. There is no waiting period. All details are available transparently.
  • This is a useful facility as you can make an inter-firm comparison between the insurance quotes of different insurance companies to choose the best one.

5. A plethora of Choices

  • When you buy an online health insurance policy, there are many choices available.
  • You can make additions to deletions from the extent of coverage according to your budget.
  • Caveat: Always compare the insurance plans of different companies to pick the best one online.

6. Ease of Comparison and Ease of Processing

  • Online comparisons are easy, and insurance calculators are available to calculate the health insurance premiums and other details.
  • Once you have decided on buying a particular health insurance policy online, there is expeditious processing of the policy while sitting in your office’s comfort.
  • All you have to do is fill up the online application form and send it to the insurance company with the payment. Within a few days, completed policy documents will be delivered to you in your office.

Benefits Of Having A Group Health Insurance From Your Employer | Mint

7. Ease of Processing Claims

  • Whenever your employees or their family members submit claims, they are processed quickly without any delay.
  • If the treatments are done in a network hospital, claims become cashless, making it even more convenient for your employees and their family members.

8. Protection from Financial Fraud

  • When you buy an online health insurance policy from a trusted and verified company like Plum Insurance, all your payments are encrypted, and as such, you need not fear fraud or misconduct, or online phishing.
  • You can comfortably make the payments without fear of any financial wrongdoing.

9. Online Pre and Post-sales Service:

  • Right from start to finish, all documentation is completed online, claims of employees are also processed online, and all copies of documentation like premium receipts and original insurance copies are all sent online.
  • Renewals of insurance policies annually can also be done online. The whole process is seamless from start to finish. Your online health insurance company may have its office in another state or territory.
  • This is immaterial as to the completion and fulfilment of policy terms. Geographical distances don’t matter when it comes to executing and fulfilling the terms of an online policy.

10. Tax Benefits for Your Employees:

  • Your employees, particularly senior employees, get tax deductions on their medical premiums. This is an added benefit that they can avail themselves of.
  • They can also get cover for certain critical illnesses above the hospitalisation cover.
  • Boosting employee morale, improving employee loyalty, and reducing employee attrition which is common to all group insurance policies, are also applicable to online health insurance policies.
  • Family members get covered. In addition, online plans provide added coverage for pre-existing illnesses and maternity-related treatments.
  • Don’t delay; provide your employees with online plans. Show them you care.

Key Takeaways

Group plans provide the same cover to all employees without any variation. Online plans also add convenience, ease of transaction, and cost-effectiveness to the mix. When you consider the value of retaining key employees and their benefits to the organisation, providing a group health insurance policy for your employees seems a small cost to bear. Whatever be the type of organisation, whatever the organisational set-up, the tangible benefits of subscribing to an online group health policy for your employees outweighs the costs.

Plum Insurance provides your employees with the best online health experience with a smooth and seamless digital claims experience. Plum Insurance has some of the best digital startups among its clients. Its impressive client list includes Dominos, Finley, Shifu, Gigindia, Instawork, etc. Why don’t you join the bandwagon?