With the evolving workplace needs, employees have to spend the majority of their time at the office, leading to a lack of me-time, workouts, movement, socialising and peace.
One cannot buy good health for their employees, but can surely buy them a corporate mediclaim policy. Moreover, the best group health insurance policy is especially important if you employ IT/ITES employees.
This is because the IT or Information Technology Enabled Service (ITES) industry is highly demanding in terms of working hours, stress levels, deadlines and overall quality of life.
Therefore, to foster a healthy workforce, you can buy health insurance for employees and utilise group health coverage to ease their financial worries.
Importance of Employee Health Insurance
Employee well-being is not just a trend but a necessity. IT/ITES employees face multiple health-related issues, including heart issues, acidity, digestive problems, bad sleep cycle, eyesight problems, back and neck health, obesity and intense migraines.
All of the above conditions are a result of work-induced stress and insomnia. Long working hours take a toll on their overall health by affecting their food intake and sleep cycles. In such situations, an employee health insurance plan can protect them from numerous health issues and financial strain.
Group Health Insurance Benefits for Employees
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Group Health Coverage
If you buy group health insurance from trusted policy providers like Tata AIG, you get a wide spectrum of coverage. Good policies offer coverage for employees, their families, employees or their spouse’s maternity expenses, pre and post-natal care, baby day one cost, in-patient treatment, pre and post-hospitalisation, day care procedures, organ transplants and pre-existing illness coverage.
These policies also promote preventative care, dental care and vision care. When well-customised, these features provide comprehensive coverage for the employee.
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Mental Health Support
As mentioned above, IT/ITES employees struggle with many psychological conditions like stress, insomnia and anxiety. Some even struggle with depression when things get tough.
Employee health insurance provides access to mental health resources and also helps establish a healthy work-life balance.
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Financial Security
One of the many benefits of a group mediclaim policy is the financial security it provides to the employees. As a working professional in IT/ITES, one merely gets no self-care or healthcare time, which severely affects their mental and physical health.
It becomes difficult to navigate the battle between health and finances as they deal with both at a time. Employee health insurance is an assurance that they are financially secure, helping them achieve peace of mind.
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Quality Healthcare Access
Due to features like network hospitals and cashless claims, it is easy for an employee to access top-notch healthcare centres and hospitals in the country. The new amendment regarding cashless claims, which requires every hospital to allow cashless hospitalisation to a valid policyholder, has further facilitated it for the employees to get treated by good doctors.
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Affordable
A corporate mediclaim policy is more affordable than an individual mediclaim policy. Unlike for an individual policy, where you pay the entire premium, an employee health insurance premium is proportionately divided between the employer and employee, or is entirely paid for by the employer. This makes the policy affordable for the employees.
Group Health Insurance Benefits for Employers
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Attracts Top Talent
There are numerous IT/ITES companies that want to hire top talents in the country. So, why would they choose your company to work with? Apart from your work environment and ethics, you need to have attractive plans in place, and employee health insurance is one such plan. This health policy makes the candidates feel safe and secure, both work-wise and finance-wise.
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Employee Retention
One of the many benefits of a group mediclaim policy is that it helps you in retaining your top employees. An employee who feels safeguarded by their company will not switch companies easily.
When you value their health and presence, they prefer your company over other places. This feeling of security reduces the turnover rate and saves the employer the time it takes to recruit new employees.
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Motivated Employees
A healthy employee is always going to benefit you more than an unhealthy and mentally unwell employee. Stress and lack of sleep take away any motivation your employees have. If you provide them with a reliable financial instrument that secures their health and finances together, you offer them a reason to stay motivated and work well.
Final Thoughts
Investing in group health insurance offers benefits to employees and employers alike. Securing your employees’ financial future by offering quality healthcare, mental health support, and financial coverage is paramount.
In order to truly experience the benefits of a group mediclaim policy, one needs to buy the best group health insurance. Ensure that you purchase from a reliable provider, review features, assess employee needs, and make better decisions.