How to Customize a Group Medical Insurance Plan for Your Business

Introduction

Considering the uncertainties in today’s busy and stressful lifestyle, obtaining group health insurance for employees is not just an option anymore; it is mandatory. Regardless of the sizes and nature of businesses, employers are now eventually understanding the requirement and opting for group health insurance. However, they are still not yet ready to focus on customising their policies.

The reason behind this reluctance is the lack of awareness. Although insurance providers often put forward the customisation options, employers barely get any feasible guidance on how to customise their group insurance policies. As a result, they prefer to avoid customising, considering it a hassle.

So, this blog is here to guide employers about how to customize group medical insurance. Additionally, the readers will learn about diverse customisation options available to be opted for under group medical insurance policies in UAE.

Customizing a Group Medical Insurance Plan: A Step-by-step Guide

Specific modifications in group medical insurance plans help to cater to the unique requirements of the employees. Here are some clear steps following which you can customise a group medical insurance effectively:

Recognise employees’ specific needs:

Clear two-way communication with employees help employees understand their specific needs. Additionally, learning about their family details give insights into their dependents’ medical requirements.

Select the right insurance provider:

In this era of globalization, numerous insurance providers emerge nowadays. Among them, finding the right partner is crucial. Choose a leading insurance provider like CoverB who can understand your business visions and suggest you the best customisation options aligned with your organisational plans and goals.

Get the coverage options:

It is essential to dedicate some time to discuss with the preferred insurance provider about the available coverage packages. Then, considering budget and requirements, the best plan can be opted for.

Consider the optional add-ons:

Employers should learn about the additional benefits provided by the insurance providers under group medical insurance. If an employee has some specific needs that can be covered with certain add-on benefits, you can customize the plan and include it.

Check the details of the hospitals within the network:

Beneficiaries can get cashless claims in hospitals who are under the network of the insurance plan. These hospitals need to be well-maintained and have standard infrastructure. Consider the number of hospitals under the insurance network as the more hospitals are a part of it, the more your chances of getting quality healthcare increases.

Customise and inform the beneficiary employees:

At the final stage, employees should be informed about the customized plan with a clear discussion on the availability of coverages, add-ons and other details.

By opting for customized group insurance, employers can provide specialised health insurance packages to their employees without paying for individual special policies for each employee.

Looking for the most profitable customisation options under group medical insurance in the UAE? Visit CoverB today.

Available Customisation Options for Group Medical Insurance Plans in UAE

Although different insurance companies offer diverse customisation options, some of the common options are mentioned below:

Wellness programmes: While covering the medical expenses at the time of need is important, making people aware about the potential reasons that cause the health issues is equally important. Insurance companies therefore, often offer wellness programmes including expert guidance on health and fitness.

Dependent coverage: Taking care of employees’ loved ones is as crucial as ensuring employees’ well-being. If employees’ spouses,/parents,/ children are not included in the main group medical insurance coverage, you should look for it as an add-on and customize the policy plan including the dependent coverage.

Hierarchical benefits: The coverage limit can vary as per the seniority levels in the group of employees under the group medical insurance plan. The employees who have been working in the company for a long period, should be rewarded with more insurance coverage to appreciate their efforts.

Extended coverage scopes: Usually, group insurance packages cover certain specific areas. By opting for extended coverage scopes as an additional feature, employers can help employees get the coverage beyond the specific geographical areas, with access to hospitals outside the insurance networks.

Distribution of premium amount: Some insurance plans come with a customisation option of premium distribution. Both employers and employees can contribute to the insurance premium and secure a suitable coverage limit.

Removal of deductibles: If the insurance plans come with certain deductibles, policyholder employers can remove them and get the full coverage for their employees.

A group medical insurance is definitely a cost-effective plan for small and medium businesses in UAE. Customising it with required benefits ensures complete security and peace of mind for employees.

About CoverB: Customize your Group Medical Insurance with Best Options

CoverB as a leading insurance provider in UAE, offers a plethora of medical insurance packages including multiple group insurance plans that are helpful for businesses of all sizes. Curated by experts in their team, the policy plans are comprehensive and customizable. Several multispeciality hospitals are covered under the network of the group health insurance plans provided by CoverB with an assurance to provide best-in-class medical facilities to the beneficiary employees.

Final Words

With customisation options like extended coverage scopes, dependent coverage and other value-added benefits, employers can look after their employees’ medical needs in a satisfactory way. However, it is important to keep every relevant factor in mind while customizing the policy and take help of expert guidance from leading insurance companies like CoverB.