Hi ,
My employer provides Mediclaim of approx Rs1000 per month, so if at the end of the year i have not used that facility ,it so can it be incashed by showing the bill.
Can any one guide me plz regarding this.
Regards
Pan
From India
My employer provides Mediclaim of approx Rs1000 per month, so if at the end of the year i have not used that facility ,it so can it be incashed by showing the bill.
Can any one guide me plz regarding this.
Regards
Pan
From India
No,
Mediclaim insurance premium is paid by the company to the insurance co for any unforseen things happening to the employee and no financial burden immediately comes down on the employee.
Such amount is not claimable even if you have not claimed under the mediclaim insurance of the company.
Regards,
Anand
From United States
2Mediclaim insurance premium is paid by the company to the insurance co for any unforseen things happening to the employee and no financial burden immediately comes down on the employee.
Such amount is not claimable even if you have not claimed under the mediclaim insurance of the company.
Regards,
Anand
From United States
Dear Pan,
When by paying Rs 12,000 per annum the Insurance Company gives settles a claim of Rs. 2,00,000 lacs, where do you feel it get the money from? It is from the premium they collect from members like you who remains safe but have covered themselves for safety. This is the basic ground on which Insurance Companies do business.
Kind Regards,
SC
From India, Thane
When by paying Rs 12,000 per annum the Insurance Company gives settles a claim of Rs. 2,00,000 lacs, where do you feel it get the money from? It is from the premium they collect from members like you who remains safe but have covered themselves for safety. This is the basic ground on which Insurance Companies do business.
Kind Regards,
SC
From India, Thane
Hi All, Iam sorry, if you can put a light on it in a more vivid manner as i was not able to understand it. Especally the relation between th co. and insurance co.
From United States, Irvine
From United States, Irvine
I think how it works is the company pays the mediclaim premium ON BEHALF of the employee to the insurance company. This premium amount is a part of the employee's CTC, and he is not taxed on it. If at the end of the year, the employee does not have need to claim the insurance, then its OK. Otherwise if he has an accident or something, then the insurance claim will pay the medical expenses under the mediclaim insurance. Either way the employee does not have to pay anything for the insurance cover
From India, Gurgaon
From India, Gurgaon
To make it simpler :
Your company takes on an insurance policy to cover medical expenses incurred by its employees (upto certain limits as laid down in the policy), by paying the Insurance Company premium for a Group Insurance Policy.
If an employee incurs such medical expenses, then the INSURANCE COMPANY reimburses the employee for such expenses (through your company).
If, at the end of the insured period, the employee has not incurred/claimed any medical expenses, the premium amount IS NOT REFUNDED TO YOUR COMPANY but used by the Insurance Company to set off reimbursements made to other employees under the Group Medical Policy.
Since your Company does not get the premium amount refunded to it in any way, obviously you as an employee have no claim to it.
I hope this is clear enough to settle all your doubts.
From India, Mumbai
Your company takes on an insurance policy to cover medical expenses incurred by its employees (upto certain limits as laid down in the policy), by paying the Insurance Company premium for a Group Insurance Policy.
If an employee incurs such medical expenses, then the INSURANCE COMPANY reimburses the employee for such expenses (through your company).
If, at the end of the insured period, the employee has not incurred/claimed any medical expenses, the premium amount IS NOT REFUNDED TO YOUR COMPANY but used by the Insurance Company to set off reimbursements made to other employees under the Group Medical Policy.
Since your Company does not get the premium amount refunded to it in any way, obviously you as an employee have no claim to it.
I hope this is clear enough to settle all your doubts.
From India, Mumbai
I still have a doubt on
1) Medical Exp. Reimb,
2) Mediclaim Premium,
3) Group Health Insurance
4) Hospitalisation Insurance Premium
Pls anyone give me a clear information on these.......(How it benefits to an employee?, How can he claim for it? A specific period for claiming)
From India, Bangalore
1) Medical Exp. Reimb,
2) Mediclaim Premium,
3) Group Health Insurance
4) Hospitalisation Insurance Premium
Pls anyone give me a clear information on these.......(How it benefits to an employee?, How can he claim for it? A specific period for claiming)
From India, Bangalore
info provided by Devjit & Jeero should clear you doubts.
All the terms you mentioned are one and the same.
U call it mediclaim insurance or GPA or GPI but it all related to health insurance towards you and/ your family members. Your company pays a small premium on behalf of you to safeguard your pocket in case of any unforseen incidents calls for huge expenditure which will be taken care by the insurance company at the cost of the premium paid by your company which is non refundable or claimable.
Regards,
Sat.
From India, Selam
All the terms you mentioned are one and the same.
U call it mediclaim insurance or GPA or GPI but it all related to health insurance towards you and/ your family members. Your company pays a small premium on behalf of you to safeguard your pocket in case of any unforseen incidents calls for huge expenditure which will be taken care by the insurance company at the cost of the premium paid by your company which is non refundable or claimable.
Regards,
Sat.
From India, Selam
Dear Member
with reference to the your mail
Mediclaim is an Insurance Policy. Few companies enter into the group medical insurance policy for employees in addition to existing ESI hospital facilities of governments. This aimed to curtail immdiate expenditure of serving employees who encounters with unforseen accidents.
2. Insurance companies they have their own terms and conditions for providing medical coverage and this will be envisaged prior to the enter into policy with them. for example 15 Beds Hospital Doctor diagnosis statement etc to reimburse the amount of expenditure.
This saga goes on
regards
yandamuri
From India, Visakhapatnam
with reference to the your mail
Mediclaim is an Insurance Policy. Few companies enter into the group medical insurance policy for employees in addition to existing ESI hospital facilities of governments. This aimed to curtail immdiate expenditure of serving employees who encounters with unforseen accidents.
2. Insurance companies they have their own terms and conditions for providing medical coverage and this will be envisaged prior to the enter into policy with them. for example 15 Beds Hospital Doctor diagnosis statement etc to reimburse the amount of expenditure.
This saga goes on
regards
yandamuri
From India, Visakhapatnam
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
MEDICLAIM MADE EASY.doc