Think about the times you have heard of someone dealing with a health emergency. These situations rip apart our financial savings and cause emotional stress. Recent global health crises like COVID-19 have made the importance of having health insurance coverage even more evident.
Despite such occurrences, health cover penetration in India is poor. Almost 30% of the Indian population has no health scheme. High premiums and complex terms & conditions are the top reasons for this trend.
This is why opting for group health insurance at employee-first companies is a no-brainer. Putting the well-being of your employees at par with organisational goals can create healthier and more productive teams. It gives your leaders an opportunity to lead by example. And by valuing your team’s health, you incentivise them to care about their well-being and bring their best selves to work.
A bonus benefit of group health insurance: your organisation just took another leap at becoming people-centric and empathetic.
Group health insurance is an umbrella policy offered to a group of individuals. The most common example is when an employer promotes a corporate insurance plan to their employees, who can roll it out to their spouse, children, parents or parents-in-law. Employer-employee insurance benefits are comprehensive and affordable, depending on the plan your company opts for.
For instance, all your pre-existing conditions are covered from day one without any waiting periods. This extends to common illnesses, maternity benefits, daycare treatments and personal accidents, to name a few.
Group insurance is unlike an individual health policy, where the waiting periods cannot be waived, and the premiums are worth a king’s ransom even if they could be. This makes group health insurance a necessity and not just a nice-to-have benefit.
You already know that building a talented team is a herculean task. But, retaining great talent and keeping them motivated is a hamster-on-wheel assignment. Losing even a single member after all your hard work is a kick in the gut.
It’s more difficult when you know that you could’ve addressed their concerns in hindsight. These include things that improve employee morale and organisational culture, like providing adequate paid time off, flexible work-life balance and a comprehensive group health insurance plan.
Today’s workplaces are synonymous with human-centric policies. When potential hires imagine their ideal work culture, it involves organisations building a culture of care, inclusivity and innovation. This fosters a team of happy individuals who are not only engaged at work but are also bagging the best outcomes.Choosing group medical insurance is the first step to showing your employees that you care. The ripple effect is that employees feel happy, and retention is high as they feel prepared for unforeseen events. This also makes them more productive at work, nudging them to build a healthy lifestyle resulting in lower sick leaves.
Plum is tailored for young startups from the get-go. We believe there’s no “right team size” for picking a group health insurance policy. The sooner, the better.
Scale your business by offering the best group health insurance policy. Group health insurance policy for employees is a holistic perk that places your workforce’s health in the front and centre, increasing employee satisfaction.
With big business comes big responsibility. Organisational culture and employee benefits play a massive role in talent retention. Prioritise your employees’ needs with corporate health insurance as the onus is on you to take care of the people who look after your business.
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