Business Health Insurance Archives

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 Name	Religare	Manipal cigna	ICICI Lombard	HDFC ERGO	Tata	Apollo (Now HDFC Egro)
Plan Name	Super Saver	Pro health Protect	i health	health suraksha	MEDICARE	Optima 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 insured	3 to 4 Lakhs	2.5 to 50 Lakh	5 to 50 Lakh	3 to 75 Lakhs	3to 20 Lakh	3to 50 Lakh
Hospital Room Eligibility	1% of SI per day	For SI 2.5 to 5.5 only single PVt room ansd in other Covered up to any Room Category except Suite or higher	No Capping	No Capping	No Capping	No Capping
Bonus on No Claim	10% 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)
Maternity	Covered after 4 years	Not Covered	Add On (Pay Extra Premium)	Not Covered	Not Covered	Not covered
Before Hospitalization	Up to 30 days	60 Days	30 Days	60 Days	60 Days	60 Days
After Hospitalization	Up to 60 days	90 Days	60 Days	180 Days	90 Days	180 Days
Day Care Treatments	Yes ,2 years waiting – harnia, piles, knee replacement, cateract, stone	546 Day care Procedures	150 Day care Procedures	586 Day care Procedures	541 Day care Procedures	All Day care treatments are covered
Hospitalization at Home	Upto 10% of SI , Minimum 3 days required to admit	Treatments done at home due to patient condition or unavailability of hospital bed are covered upto sum insured with 30 Days of Pre and Post Hospitalization	Not Covered	Covered up to sum insured	Covered up to sum insured	Covered up to sum insured
Alternate Medicine	Up to Rs 15,000 for utilizing AYUSH	Covered up to sum insured	Covered up to sum insured	Covered up to sum insured	Covered up to sum insured	Not Covered
Restoration of Cover	Covered, Upto 100% of SI but Not for same person and same illness in the same policy year	Covered, Upto 100% of SI but Not for same person and same illness in the same policy year	Covered, Upto 100% of SI but Not for same person and same illness in the same policy year	Covered, Upto 100% of SI, for same illness for same person in the same policy year	Covered, Upto 100% of SI, for same illness for same person in the same policy year	Covered, Upto 100% of SI, for same illness for same person in the same policy year
Pre Existing waiting Period	4 Yrs	4 Yrs	2 Yrs	3 Yrs	3 Yrs	3 Yrs
Ambulance Charges	Rs.1,500/ hospitalization	Rs. 2000 per Hospitalization	Rs. 1500 per Hospitalization	Plan Silver 2000, Gold 3500 and sum insured 20 to 50 lakh -3500, >50 Lakh – 15000	Rs. 3000 per Hospitalization	Rs. 2000 per Hospitalization
Worldwide Emergency	Limited	Assistance provided outside India upto SI	Not covered	Not Covered	Covered, Detection point should be In India	Not Covered
Domestic Evacuation	Not covered	Not covered	Not covered	Covered	Not covered	Not covered
Health Checkups	Yes, all members Once every year	Health checkup offered Every 3rd Policy Year	Annual, Maxium 2 persons	Annual	Every 2 consecutive claim free year and Upto 1% of S.I or max Rs. 10,000	Up 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 Company	Health Cover For Rs 50,000	Health Cover For Rs 1,00,000
Religare	921	1824
Manipal	943	1886
Hdfc	1199	2158

Following are features of Group Plans with Comparison

Company Name	Religare	Manipal Cigna	HDFC ERGO
Sum insured	Rs 50k to 5 lac	Rs 50k to 15 Lakhs	Rs 30k to Rs 15 Lakhs
Covering	Self + Family ( 1+3)	Self + Family ( 1+3)	Self + Family ( 1+3)
Min Lives	10	10	Mim 7 Employees – Max 500 Employee
Min/Max Age entry	Min- 18 years and Max 60 Years	Min- 18 years and Max 60 Years	Min- 18 years and Max 60 Years
In-patient Care( Medical Expenses Cover)	Covered upto Sum Assured	Covered upto Sum Assured	Covered upto Sum Assured
Room Rent Limit and ICU Limit (Respectively)	2% & 4% of Sum Insured	1% & 2% of Sum Insured	1% & 2% of Sum Insured
Waiting Period	Waived off	Waived off	30 days waiting period applicable
Pre-Hospitalization & Post hospitalization Expenses	30 Days & 60 days Respectively	30 Days & 60 days Res[pectively	60 Days & 90 days Res[pectively
Day Care Treatments	Covered upto Sum Assured	Covered upto Sum Assured	Covered upto Sum Assured
Pre Existing Diseases	Optional	Optional	4 years waiting period applicable
Ambulance Charges	Rs. 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 ony	Not Covered	Not Covered
Co – Pay	Optional	Optional	Optional
COVID cover	Available as Top up	Avialable	Available

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.