Group Medical Insurance
Group Medical Insurance provides medical coverage to a group of people/employees who work together in the same organization. They may also provide supplemental health plans such as dental, vision, and pharmacy; separately or as a bundle. Most group medical insurance plans include the following coverage, Disability insurance (wage loss replacement): enables employees to receive part of their salary in the event of disability.
A group medical insurance offers the members and their dependents a coverage for pre-hospitalisation and post-hospitalisation expenses for a certain period of time.
So by purchasing such a policy; the employer could make medical coverage more accessible and affordable to their employees.
Group medical insurance plans are purchased by companies and organizations and then offered to their members or employees; and coverage may be extended to members' families and/or other dependents for an extra cost.
The group members receive insurance at a reduced cost because the insurer’s risk is spread across a group of policyholders.
The premiums are less & affordable as compared to regular individual health plans.
