The Future of Health Insurance: How Flexibility Can Make Employee Benefits Better
Learn how flexible health insurance plans at workplace can make a difference.
By Pazcare
October 14, 2024
Group Health Insurance - For Education Management Industry
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₹ 5,000 per life
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Education management industry - Overview
The education management industry refers to companies or businesses that cater to arranging the resources, plans, strategies, etc to execute the educational system. Education is the basis of every industry and the education management industry makes sure that the scope of education does not remain limited to the urban population but rural as well.
Companies working in this industry, aided by technology, are making sure that every individual gets educated in their desired fields. It is also providing employment to people from varied aspects of life. India has around 4.45 Lac companies working in the education management industry which not only targets teens or pre-teens but toddlers and young adults alike. The employee structure ranges between -
- 0 - 100 employees - 1.09 Lac
- 100 - 1000 employees - 1.01 Lac
- 1000+ employees - 5.06 Lac
Why buy group health insurance for the education management industry?
Group health insurance policies should be available to rural as well as urban areas alike. The pandemic has taught us the necessity of an insurance policy to safeguard us whenever required. Adequate financial assistance is provided if an insurance policy is in place.
- Tax exemption
According to the Income Tax Act of 1961, the premium paid towards a group health insurance policy is not taxable.
- Enhanced productivity
Your employees would be able to focus more on their work when they know that if required, financial assistance is available for their use.
- Employer branding
In today's fast-paced world, employer branding is everything to a company or a business. Creating a sense of belonging amongst your employees will generate goodwill.
- Retain employee
With various types of incentives and bonuses playing around in the market, working individuals look for benefits other than their salary. Providing group health insurance to them will help in employee retention as well.
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Things to know before buying group insurance for the education management industry
Just like curating content for educational purposes, it is imperative that you research the group health insurance market thoroughly before making a purchase. Following are a few things to keep in mind while doing the same.
- Add-ons
Your group health insurance will cover many things but if there are any specific requirements from your end, make sure it is available as an add-on benefit.
- Claim settlement ratio (CSR)
A claim settlement ratio gives valuable insight into the reliability of your insurer.
- Network hospital chain
A wide network hospital chain will aid your employee in living geographically at a distance.
- Claims experience
Ensure that your insurer provides seamless claims experience without the intervening TPAs.
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For any queries or assistance, reach out to us at any time. We provide 24X7 customer assistance.
Pazcare
91 80378 34753
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Group health insurance for education management industry employees FAQs
What is a network hospital?
Some hospitals have tie-ups with either TPAs or health insurance companies. If you choose to get treated in a network hospital, you can get the cashless treatment done and your insurance company will directly settle the bills at the hospital.
What if I choose to get treated in a non-network hospital?
If you choose to get treated at a non-network hospital, then you can apply for reimbursement claims. You need to settle your bills at the hospital beforehand and keep the original bills with you. Your insurer will settle the claims directly in your registered bank account.
Is the premium paid towards group health insurance borne by the employee?
No, the premium paid is borne by your employer only.
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