A group health insurance policy is a great way for employers to offer financial security to their employees. However, a basic group health insurance plan may not cover all healthcare needs. With rising medical expenses and different types of ailments and needs, it’s essential to fortify coverage of a group plan. This is where add-ons can play a vital role. Added to the base policy, it’s a separate cover that offers benefits up and above the base plan.
Add-ons that you can add
- Maternity cover
Adding maternity cover to a group insurance policy provides financial support for expenses related to childbirth, including pre-and post-natal care. It also covers new born baby care for a limited period. This ensures parents can focus on their child’s well-being without stressing over medical costs.
Given that maternity expenses can be significant, this coverage acts as a safety net. This can help employees manage hospital bills and related expenses with ease. By including maternity benefits, employers show that they care about their employees’ well-being and allow them to embrace this crucial life-changing event with peace of mind.
- Critical illness cover
Serious health conditions such as cancer, heart attacks or kidney failure often require advanced medical treatments. These can be extremely expensive. In many cases, the cost of treatment can run into several lakhs of rupees, putting immense financial strain on individuals and their families.
A critical illness add-on acts as a financial safety net by providing a lump sum pay-out when an employee is diagnosed with these life-threatening conditions. This immediate financial assistance can be used to cover medical expenses, replace lost income or manage other essential costs. This ensures employees can focus on recovery without worrying about money.
- Home healthcare services
When employees recover from an illness, they may require continued medical care at home. Home healthcare coverage helps by providing essential services such as nurse visits, physiotherapy sessions, and post-hospitalisation support. This not only reduces the need for extended hospital stays but also ensures a comfortable and smooth recovery process in a familiar environment.
Employees can heal faster with professional medical assistance at home while receiving personalised care. This can make their transition back easier and stress-free.
- Psychiatric and Mental Health Cover
Mental health is just as crucial as physical health. Unfortunately, though things have improved over the years, there’s a lot to be done. Adding mental health coverage to group health insurance can be a game-changer.
With this add-on, employees can have access to professional mental health care to address issues like depression, anxiety, stress, burnout, etc. Tackling them effectively can help them be more productive and engaged. It fosters a healthier work environment, reduces absenteeism, and promotes overall well-being.
Conclusion Adding these add-ons to a group health insurance policy can provide employees better financial protection and peace of mind. As an employer, you should choose add-ons based on their workforce’s needs. A well-rounded group health insurance plan boosts employee satisfaction and productivity significantly in the long run
