Group Health Insurance: Is It Sufficient?

“Health is Wealth”. Well, this is a statement which everybody knows and there is no second seriously considered the relevance. Still, how many of us really manage their health?

Taking health is yet another subject, what about covering hazards which are not under our control. There are several exogenous factors which can impact your overall health in an unwarranted manner. health insurance thailand cost

To have well, exercise and care for your health in all possible ways. Nevertheless you do not really really know what is happening inside your body and what kind of health ailment you can come across during time. 

God forbids that anyone of us comes across any difficulty in life. But, at the same time, it is smart to account for any health related risks.

In the event that someone gets to know about his or her illness, then obviously this individual or she wants to go for the best possible treatment. You cannot find any escape, and you want the best health care services for your own. The same applies to your loved ones as well.

You always strive to get high quality products and services for yourself and your family. You make efforts to get the best possible mobile phone, car, and house. And when considering your well being, there is absolutely no choice but to avail the specifications of highest standards.

My own employer provides health insurance

In corporate hubs like Gurgaon, Mumbai or Bangalore, a huge number of men and women work with great companies. These types of companies provide health insurance services to their employees.

Their employees are protected under group insurance plans. A company must pay a relatively less cost to get this service. It can work as an added benefit to the employees. At the same time, employees get assurance of health care coverage without the hassles. Some companies demand their employees just for this, many do not.

Therefore, are you one of those corporate professionals who are covered under a group insurance scheme? If certainly, then is the cover sufficient? Maybe not!

The cost of health insurance plans is rising. This kind of holds true specifically group insurance schemes. Most insurance companies have reported huge losses from group insurance schemes.

It is seen that insurance companies offer health and a life insurance policy cover at unrealistic prices and undercut in order to get the company and develop their clientele. Many times, the premium price will not support the value of claim settlement. This kind of results in losses.

Just lately, your Insurance Regulatory and Development Authority of India (IRDAI) had taken cognisance of the matter and aware insurance agencies to avoid impractical pricing.

Now you would wonder the reason we are discussing this? Very well, the situation in point is that insurance firms are asking for higher premium rates. Nevertheless if the employers are not ready, then the natural way, they will ask to slash on services somewhat than increasing the values. This kind of means that your group insurance scheme may well not cover several things.

What should you do?

Check with your employer about the exeptions. Today, the us government is offering many tax benefits on buying health insurance. You are able to assert tax great things about up to Rs 25, 000 in a year, towards repayment of health insurance high quality.

Once you know about the exclusions of your group health insurance plan, strike out a plan which covers them. The idea is to complement your existing group insurance coverage.