An worker medical insurance coverage gives monetary safety in case of health-related issues. It is a perk given to the workers by the employer, protecting not simply the worker, however their household as nicely, relying on the plan.

While an worker can use an worker medical insurance coverage in case of medical wants, such insurance policies additionally allow you to do common medical check-ups as they’ve tie-ups with community hospitals. This coverage gives hospitalisation protection, together with pre- and post-hospitalization bills.

Some worker medical insurance insurance policies additionally supply reimbursements for medical doctors charges and submit check-up bills. Some insurance policies even present for hospital money allowance, which is required to satisfy each day bills like journey and so on. It additionally gives cowl for domiciliary remedy. Even pre-existing illnesses are coated by worker medical insurance insurance policies, which often have a ready interval relying upon coverage to coverage.

Here are 5 issues to learn about your worker medical insurance coverage:

Group Plan Validity: “The primary thing that an employee must understand about his or her group health plan is that the plan remains valid only until the employee is a part of the company (which provides health insurance). If the employee leaves the company then he or she would not be a part of the group health plan, which means that the employee would remain uninsured until he or she has joined a new company that offers a group plan while joining,” says Rakesh Goyal, director, Probus Insurance Broker.

Coverage: The protection provided by such worker well being plans may differ from firm to firm. It is determined by the insurer and the protection that the employer has opted for (which might be inadequate in sure conditions). Hence, it’s endorsed to think about such plans as secondary plans and have one other extra well being plan helpful owing to the protection limits.

Varying Features & Coverage: Though an worker medical insurance coverage appears easy, it’s truly a tad advanced because it has completely different options and protection. And its completely different advantages corresponding to cashless declare services, maternity advantages, and so on. differ from insurer to insurer.

Additional Cover: It could be sensible for an worker to deal with his worker well being cowl as a further cowl, and never the one cowl. Unlike particular person medical insurance plans, worker medical insurance plans don’t supply the No Claim Bonus (NCB) facility. Hence in case you have each a person well being plan and an worker well being plan, you can declare from the worker well being plan and avail of NCB in your particular person plan with out claiming it.

Limited Tenure: You solely have the worker medical insurance coverage till you might be an worker of the group you might be working in. The day you permit the corporate, you lose entry to the worker well being plan. As the coverage is generic, it won’t offer you a complete cowl. Also, the insurance coverage supplier and protection may change based mostly on the employer’s wants.