Dear all,
We are planning for medi-claim insurance for our employees. I am requesting everyone to provide some input on the same and how it benefits both the employees and the employers. Please share your valuable opinions.
Yohan
HR
From India, Mangaluru
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2We are planning for medi-claim insurance for our employees. I am requesting everyone to provide some input on the same and how it benefits both the employees and the employers. Please share your valuable opinions.
Yohan
HR
From India, Mangaluru
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Dear Yohan,
A group mediclaim policy subscribed by the company is equally beneficial to the employees and employers. Employers bear the cost of the premium for the employees, and medical benefits are enjoyed by the employees in the form of Cashless Treatments/Medical Expenses Reimbursements (as per the terms & conditions of the policy availed).
Employees benefit by not spending on hospital expenses. The entire process is coordinated by the employer through a third-party agent (TPA) who is responsible for issuing ID cards, authorizing treatment, and processing reimbursement claims.
Employers benefit by securing the medical needs of their employees.
Hope the info is clear!!
From India, Mumbai
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A group mediclaim policy subscribed by the company is equally beneficial to the employees and employers. Employers bear the cost of the premium for the employees, and medical benefits are enjoyed by the employees in the form of Cashless Treatments/Medical Expenses Reimbursements (as per the terms & conditions of the policy availed).
Employees benefit by not spending on hospital expenses. The entire process is coordinated by the employer through a third-party agent (TPA) who is responsible for issuing ID cards, authorizing treatment, and processing reimbursement claims.
Employers benefit by securing the medical needs of their employees.
Hope the info is clear!!
From India, Mumbai
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For employers: It allows them to benchmark their benefits as per industry standards and also removes the financial risk to employees in case of hospitalization. Quite often, long-time employees come to management expecting the company to assist them in such cases. It's a good attraction and retention tool in SMEs.
For the Employee: It helps reassure them that they have coverage in case something were to happen to them or their family, leading to heavy expenses in a hospital.
Please let me know if you need any further information.
Regards, Deepak
From India, New Delhi
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For the Employee: It helps reassure them that they have coverage in case something were to happen to them or their family, leading to heavy expenses in a hospital.
Please let me know if you need any further information.
Regards, Deepak
From India, New Delhi
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A private limited firm takes mediclaim policies from LIC of India for their 35 employees in their name, but the premium is paid by the company through a cheque. Is it possible to adjust the premium amount in the company expenses for income tax purposes? Is it admissible? If so, is there any specific income tax act number related to this matter?
From India, Madurai
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From India, Madurai
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