For HR and Finance teams, group mediclaim is often the biggest non-salary employee benefit they manage. Getting it right has a direct impact on employee satisfaction, retention and productivity.
Why Group Mediclaim Matters
A 2023 survey found that health insurance is the #1 most valued employee benefit across all age groups in India. Companies that offer strong health coverage see 35% lower attrition among insured employees.
Designing Your Group Policy
Setting the Right Sum Insured
₹3 lakhs per family is the minimum. Best-in-class employers offer ₹5–10 lakhs per employee + family. Consider the demographic of your workforce.
Including Dependents
Most policies allow employees to add spouse, children and sometimes parents. Whether the company pays for dependent cover or employees contribute is a design choice — both models work.
Maternity Coverage
Include maternity and newborn cover. This is a significant benefit for employees and a relatively small incremental cost at a group level.
Day Care Procedures
Ensure your policy covers 500+ day-care procedures — these are same-day treatments that don't need 24-hour admission but still cost significant money.
Managing the Policy
- Conduct annual enrollment drives
- Provide employees with clear benefit summaries
- Set up a claims helpline (VIRAM provides dedicated support)
- Conduct Y2 renewal review to adjust sum insured and coverage based on claims experience
VIRAM's Corporate Insurance Platform
We offer HR teams a dedicated online portal for:
- Employee enrollment and endorsements
- Real-time claim tracking
- Policy documents on demand
- Claims analysis reports
Contact our corporate team to set up a demo.