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May 21, 2020

Starting Business after Lockdown How you can Buy Health Insurance Online for Employees

by facelesscompliance in Compliance Law

Starting Business after Lockdown How you can Buy Health Insurance Online for Employees

Various State Government has mandated to take Medical Insurance / Health Insurance for Employees before starting business post lockdown restrictions are over

As per recent government mandate all industrial and commercial establishment work places, shall put in place arrangement for implementation of standard procedures (SOP) before starting their functioning. As per clause no 5 of Annexure II of the SOP for offices, workplace, factories and establishment medical insurance for workers is to be made mandatory.

A Sole Proprietor or Company has to mandatory take Health Insurance for all working employee and Director of the Company. Even in case you have one employee being a sole proprietor you need to adher to the guidelines of central and state government and take health insurance.

The question come which plans are Best and Easily available online, where you can pay the premium and start your business with all Medical related compliance direction given by state government and central government

First you need to identify how many employees are currently there in your organisation, less than 10 or more than 10, depending upon the number you can chose the policy. As in case you have less number of employee assume less than 10, then it is advisable to go online and buy the insurance plan online, as individual plan for each employee would be chepaer. Incase you have more than 10 employees it is advisable to buy group plan as Insurance company will give you better & cheaper option your business

The Article is divided into two parts first how to buy online health insurance for business having less than 10 employees.

Plans for Business having less than 10 Employees

For Individual Employees and other people this are the approx. premium calculations of Top few insurance companies providing health insurance for individuals

Company NameReligareManipal cignaICICI Lombard         HDFC ERGOTataApollo (Now HDFC Egro)
Plan NameSuper SaverPro health Protecti healthhealth surakshaMEDICAREOptima Restore
Approx Premium for 3 Lakhs Coverage Age 35 Rs 5,779 Rs 6,300 Rs 10,000
5 Lakhs Cover
Rs 6,859 Rs 4,525  Rs 7,296
Sum insured3 to 4 Lakhs2.5 to 50 Lakh5 to 50 Lakh3 to 75 Lakhs3to 20 Lakh3to 50 Lakh
Hospital Room Eligibility1% of SI per dayFor SI 2.5 to 5.5 only single PVt room ansd in other Covered up to any Room Category except Suite or higherNo CappingNo CappingNo CappingNo Capping
Bonus on No Claim10% increase in Sum Insured (max 50% and 10% decrease in case of claim)Guaranteed 5% increase in SI, max. upto 200%10% every claim free year  up to max. of 50%.10% in silver , gold maximum 100 and 25% in platinum up to 200%50% every year, Max 100%50% increase in Sum Insured (max 100% and 50% decrease in case of claim)
MaternityCovered after 4 yearsNot CoveredAdd On (Pay Extra Premium)Not CoveredNot CoveredNot covered
Before HospitalizationUp to 30 days60 Days30 Days60 Days60 Days60 Days
After HospitalizationUp to 60 days90 Days60 Days180 Days90 Days180 Days
Day Care TreatmentsYes ,2 years waiting – harnia, piles, knee replacement, cateract, stone546 Day care Procedures150 Day care Procedures586 Day care Procedures541 Day care ProceduresAll Day care treatments are covered
Hospitalization at HomeUpto 10% of SI , Minimum 3 days required to admitTreatments done at home due to patient condition or unavailability of hospital bed are covered upto sum insured with 30 Days of Pre and Post HospitalizationNot CoveredCovered up to sum insuredCovered up to sum insuredCovered up to sum insured
Alternate MedicineUp to Rs 15,000 for utilizing AYUSHCovered up to sum insuredCovered up to sum insuredCovered up to sum insuredCovered up to sum insuredNot Covered
Restoration of CoverCovered, Upto 100% of SI but Not for same person and same illness in the same policy yearCovered, Upto 100% of SI but Not for same person and same illness in the same policy yearCovered, Upto 100% of SI but Not for same person and same illness in the same policy yearCovered, Upto 100% of SI, for same illness for same person in the same policy yearCovered, Upto 100% of SI, for same illness for same person in the same policy yearCovered, Upto 100% of SI, for same illness for same person in the same policy year
Pre Existing waiting Period4 Yrs4 Yrs2 Yrs3 Yrs3 Yrs3 Yrs
Ambulance ChargesRs.1,500/ hospitalizationRs. 2000 per
Hospitalization
Rs. 1500 per
Hospitalization
Plan Silver 2000, Gold 3500 and sum insured 20 to 50 lakh -3500, >50 Lakh – 15000Rs. 3000 per
Hospitalization
Rs. 2000 per
Hospitalization
Worldwide EmergencyLimitedAssistance provided outside India upto SINot coveredNot CoveredCovered, Detection point should be In IndiaNot Covered
Domestic EvacuationNot coveredNot coveredNot coveredCoveredNot coveredNot covered
Health CheckupsYes, all members Once every yearHealth checkup offered Every 3rd Policy YearAnnual, Maxium 2 personsAnnualEvery 2 consecutive claim free year and Upto 1% of S.I or max  Rs. 10,000Up to Rs 2,500(Rs 1,500 for Individual) at 2 yrs end

Step wise process to take Insurance Online as it has simple and easy to do by self – You can contact Health Planner Mr Tejas Parekh at 9819642312

We have chose Religare Insurance because it is easy to take insurance online and their Health Planner is also available for online help at the time of buying Medical Insurance for Self or Employee. It just takes 5 steps and 10 minutes to buy insurance online

Step 1 Click on https://www.religarehealthinsurance.com/hp/pauravitejasparekh

Step 2 : Slect Plans and Read all the Options available to chose from

You will see following Screen

Step 3: Need to fill up all the details

Name of the plan, Email Address and Mobile Number, Select Age, Select Coverage Requirement and Number of Individuals

Step 4 : Need to provide all additional details like, Address,Age and Nominee relationship, Medical question answer 

Step 5 : Answer four Health Questionnaire

a) Does any person(s) to be insured has any Pre-existing diseases 

b) Have any of the person(s) to be insured ever filed a claim with their current/ previous insurer ?

c) Has any of your proposal(s) for Health insurance been declined, cancelled or charged a higher premium ? 

d) Is any of the person(s) proposed for insurance covered under any other health insurance policy with the Company ? 

You also have option to pay automatically from Credit card every premium so you cannot miss the deadline each year

Step 6: Once filled above details it will redirect to the payment gateway in which you have all the options to pay premium

Step 6 : Get Insurance policy online and also on your email Id once you make the payment.

For less than 10 employee this is best and cheapest way to buy online.

In case your business has more than 10 employees you can contact Health Planner Mr Tejas Parekh at 9819642312

Plans for Business having more than 10 Employees

For Individual Employees and other people this are the approx. premium calculations of Top three insurance companies for Male Age 30 to 35

Insurance CompanyHealth Cover For Rs 50,000Health Cover For Rs 1,00,000
Religare9211824
Manipal9431886
Hdfc11992158

Following are features of Group Plans with Comparison

Company NameReligareManipal CignaHDFC ERGO
Sum insuredRs 50k to 5 lacRs 50k to 15 LakhsRs 30k to Rs 15 Lakhs
CoveringSelf + Family ( 1+3)Self + Family ( 1+3)Self + Family ( 1+3)
Min Lives1010Mim 7 Employees – Max 500 Employee
Min/Max Age entryMin- 18 years and Max 60 YearsMin- 18 years and Max 60 YearsMin- 18 years and Max 60 Years
In-patient Care( Medical Expenses Cover)Covered upto Sum AssuredCovered upto Sum AssuredCovered upto Sum Assured
Room Rent Limit and ICU Limit (Respectively)2% & 4% of Sum Insured1% & 2% of Sum Insured1% & 2% of Sum Insured
Waiting PeriodWaived offWaived off30 days waiting period applicable
Pre-Hospitalization & Post hospitalization Expenses30 Days & 60 days Respectively30 Days & 60 days Res[pectively60 Days & 90 days Res[pectively
Day Care TreatmentsCovered upto Sum AssuredCovered upto Sum AssuredCovered upto Sum Assured
Pre Existing DiseasesOptionalOptional4 years waiting period applicable
Ambulance ChargesRs. 1000/-Rs. 1000/-Rs. 1000/-
Maternity Expenses – Delivery( 9 Month waiting period in respect of maternity cliam waived off)25000 for normal and 35000 for LSCS first two living children onyNot CoveredNot Covered
Co – PayOptionalOptionalOptional
COVID coverAvailable as Top upAvialableAvailable

For Buying Group Plan you can connect to Health Planner Mr Tejas Parekh at 9819642312

Disclaimer : Faceless Compliance Private Limited / http://www.facelesscompliance.com (FC) have collated the information as available and do not take any responsibility or liability of the accuracy of data and facts. It is always advisable to contact health planner or expert and take advise.